Credit Card Activity Reconciliation / Not Registering Refunds
There is a weird behavior in the CREDIT CARD ACTIVITY register that I can't comprehend. As I understand, BUDGET SPENDING (of the CREDIT CARD ACTIVITY) should track and add all credit spending (so long it was budgeted), and PAYMENTS & RETURNS should track all transfers (from my checking account) plus all of the refunds. While it seems to be registering just fine on most months, there are a couple of consecutive months in particular when both categories are way off and don't make any sense (but they later seem to balance on the subsequent third month). What am I missing?
I found that part of the discrepancies occurs because of the timing of the money transfer from my checking account to my credit card. If the transfer is made before other expenses and refunds, the TOTAL ACTIVITY (together with BUDGETED SPENDING and PAYMENTS & RETURNS) will yield vastly different values than if the transfer were to be made after those transactions. What's happening here?
We're happy to take a look at your budget with you and get to the bottom of what's happening with your credit card activity and why. :) You can reach out to our support team right from your budget if you'd like!
Mine never match because i utilise the full 55 day interest free period on the card. On any given month when the card is paid in full it is paying off expenses from the previous month mostly. this has nothing to do with the spending I've been doing this month though which wont get billed for another few weeks for example.
If you really want to check go back though each budgeted month and verify that there was no credit card overspending. Or you can be satisfied if the current balance is fully available for payment and ignore the past. either is fine.