Do you create a payee for transactions where you won't ever have another transaction with the same person/firm? This will obviously lead to having a large number of payees with only one transaction. The other alternative I thought of was to have a 'misc' payee which is used for all one-off transactions.

bailout wrote:Do you create a payee for transactions where you won't ever have another transaction with the same person/firm? This will obviously lead to having a large number of payees with only one transaction. The other alternative I thought of was to have a 'misc' payee which is used for all one-off transactions.

Or... leave the payee field empty and maybe enter a memo - it's even displayed nicely in the ledger (instead of the payee if it's missing).

That is what I do also: leave it empty and drop the name as part of the memo