diff --git a/Rabobank.hs b/Rabobank.hs
--- a/Rabobank.hs
+++ b/Rabobank.hs
@@ -46,6 +46,7 @@
 data Transaction = Transaction { date :: String          -- ^ The transaction date
                                , amount :: Double        -- ^ The amount of the transaction
                                , description :: String   -- ^ The transaction description
+                               , payee :: String         -- ^ The payee
                                , accountNumber :: String -- ^ The account number
                                } deriving (Show)
 
@@ -78,7 +79,7 @@
 -- specification, and then intercalate then with newlines, thereby returning a
 -- 'String' with this data, separated by newlines, just what we need.
 transactionToQif :: Transaction -> String
-transactionToQif t = intercalate "\n" ['P':description t, 'N':accountNumber t, 
+transactionToQif t = intercalate "\n" ['P':payee t, 'M': description t, 'N':accountNumber t, 
                                   'D':date t, 'T':printf "%.2f" (amount t)] ++ "\n^"
 
 -- |'rowToTransaction' turns a list of 'String's to a 'Transaction'. It will
@@ -86,8 +87,8 @@
 -- into a correct 'Transaction' for use with 'transactionToQif'.
 rowToTransaction :: [String] -> Maybe Transaction
 rowToTransaction
-    (date:debitcredit:amount:accountNumber:descriptionfields) =
-        Just (Transaction correctDate correctAmount correctDescription accountNumber)
+    (date:debitcredit:amount:accountNumber:payee:descriptionfields) =
+        Just (Transaction correctDate correctAmount correctDescription payee accountNumber)
   where correctDate         = intercalate "/" $ splitPlaces [4,2,2] date
         correctAmount       = creditDebit (read amount :: Double) (toTransactionType debitcredit)
         correctDescription  = intercalate ", " descriptionfields
diff --git a/rabocsv2qif.cabal b/rabocsv2qif.cabal
--- a/rabocsv2qif.cabal
+++ b/rabocsv2qif.cabal
@@ -1,5 +1,5 @@
 Name:           rabocsv2qif
-Version:        1.1.4
+Version:        1.1.5
 Synopsis   :    A library and program to create QIF files from Rabobank CSV exports.
 License:        GPL
 License-file:   LICENSE