How to categorize debt/credit card payment ?
I have two transactions for the credit card to either be approved or rejected and they’re both the same amount. One is income and the other is expense. I’m tempted to list it as an expense and delete the income one. Please advise. I am not sure how they got there if it was something that I set up wrong? Also, which class/video should I watch? It’s gettj g to the end of my trial and I don’t want to cancel because I can’t figure out how to use the program. Thanks!!
Hi Purple Case !
Credit card payments should be entered as transfers (outflows from your checking account and inflows to your CC account). This is done via the Payee field and it will automatically deduct that amount from your Credit Card Payment Category. Take a look at this Help Doc - under Imported Payments - for more information. While this information is tailored specifically for Credit Card payments, the principle holds true for any transfer.