There've been a few other postings talking of hitting limitations with MIE. Your concern isn't one I've seen.
It sounds to me as if you're talking of transactions from a checking account listing; is that right? If those are checks you've written by hand, it wouldn't surprise me at all if MIE just shows check number, date processed and amount.
I didn't get that far with my first use of Money In Excel, because my checking account is with FIdelity and is shielded behind a dual-factor authentication security system that Plaid doesn't support. But I would not expect to see 'payee' shown on those few checks I've written by hand. I do expect to see it, and do on my own direct downloads from Fidelity, on checks that were created as part of their computerized "Bill Pay" system. Same with credit card transactions--the store or vendor always is shown.
I'm sure the developers of MIE would be happy to address it if you're not seeing payee from something other than hand-written checks..... for those, I think it would be naive to expect them.