What to do with Credit Card Payment Transactions when I have no debt
I don't have credit card debt 🤗 so I just pay it off every few weeks.
So two transaction I assume will show up, a $760.00 one OUT from my Bank and then a $760.00 IN to my CreditCard.
My question is how do I categorize those two transactions? I have already categorized the things I have actually bought with that money. So I am not sure what should I do with those two line items then?
Thanks.
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Your credit card payment is a transfer between the accounts, which takes care of both sides.
If you are importing transactions, you’ll need to manually change one of them to a transfer (this option is in the payee) and then delete the other one. If you manually input a transfer before you import, YNAB will learn that the respective payees should be matched to the sides of the transfer. -
Oh thank you. The bank one hasn't showed up yet but so I should wait for Bank one to show too. Then perform two steps:
- Mark one of them as a Transfer category.
- Delete the other one.
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Gold Crab Entering the transaction first is a great move! And when the payment transaction from the bank imports, it will match up automatically.
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One more thing: I tried typing "Transfer" in the Category dropdown , but auto-complete didn't find a "Transfer" category. So it is not built-in? Should I make it manually?
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Gold Crab the payee marks it as a transfer. So for the payee, start typing in the name of the account and it should give you the transfer choice for it. No categories for account transfers.
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Gold Crab you choose “transfer“ in the payee drop down, not the category.
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Gold Crab said:
The bank one hasn't showed up yet but so I should wait for Bank one to show too.When you make the existing transaction a transfer, it will create the bank side of the transfer. You can and should then let the imported transaction from the bank match that transfer transaction.
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As a technicality, you do have CC debt. You apparently also have cash reserved to pay it off whenever you like. 😉 (paid-in-full status)
Just to be sure, though, your CC payment category Available should cover the entire account balance (which may be more than the statement balance or your payment).
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Thank you so much every body. ❤️
