When Quicken downloads transactions, it guesses at what the spending categories should be if you don't have one or more categories set up for a payee. Setting up memorized payees makes manually entering transactions faster and ensures that the correct categories are associated with downloaded transactions.
LAN. noun. A system that links together electronic office equipment, such as computers and printers, and forms a network within an office, building, or group of buildings. l(ocal) a(rea) n(etwork) .
1) On computer and telecommunication devices, a port (noun) is generally a specific place for being physically connected to some other device, usually with a socket and plug of some kind. Typically, a personal computer is provided with one or more serial ports and usually one parallel port.