Accidental charge and reimbursed a month later

I was accidentally charged at the end of April the full 6 month premium for my car insurance. I've been working with the insurance company to fix this and they have reimbursed a large portion in May. I was hoping they would just reimburse the whole amount and I could start over with a monthly payment but that isn't how they roll. So my April budget says I overspent by 1500 and now my May the car insurance category says I have 900$ (the first portion of the reimbursement) which I really don't. I was thinking of deleting the imported original charge and the reimbursement and just entering the difference as a transaction but wanted to get some advice.


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  • Keep the transactions as they actually happened. Did you pay with a credit card or with cash (checking account)?

    • dakinemaui with credit card. If I leave it, then  April shows I have overspent by 1500 but in May my car insurance cat shows I have +900 from the reimbursement since the negative balance from April doesn't carry over. 

  • Sea Green Wildcat said:
    my May the car insurance category says I have 900$ (the first portion of the reimbursement) which I really don't

    If you don't have any red in the budget -- check the CC Payment category -- then you actually do have that $900. Of course, you also have $1500 of additional debt for which money is not reserved for payment (in the CC Payment category). I suggest you move the $900 from Car Insurance to the CC Payment category.

  • Do you anticipate getting any more back from the insurance company?

    • dakinemaui yes, additional 200 in the form of a check. I would make it a Payment to but since the reimbursement was a credit back to my credit card the transaction is in Credit Card and the only options are Payment from (Checking, Money Market, etc). 

    • Sea Green Wildcat No problem. When you deposit that check, categorize that inflow to the Car Insurance category as well, and strongly consider moving that same amount to the CC Payment category. If you do, that will result in a remainder of $400 of new debt without money reserved for its repayment. (I'm assuming you changed the job of that first $900 from Car Insurance to "Pay CC Debt".) Over time, you'll probably want to budget to the CC Payment category to reduce the amount of debt being floated. This is in addition to whatever you're setting aside in the Car Insurance category for your next payment(s).

    • dakinemaui There is no CC payment category because the inflow is into my credit card. The system won't allow me to make a payment to my credit card from the same credit card. I think I have an easier solution. I'm just going to move the 1500 initial charge from April 25th to May 1st. Then the car insurance reflects the correct amount because the charge and reimbursement are in the same month. Then I can budget the difference which is the actual charge and I'll be good. I appreciate the help!

    • Sea Green Wildcat The inflow to the CC is categorized to the Car Insurance category.

    • Sea Green Wildcat After you categorize the $900 refund on your CC to the Car Insurance category (in the Accounts view for your CC, as part of a transaction) then you go to the budget screen and use the "move money tool" (click on the available amount pill in your Car Insurance category) to move that money to the CC payment category.

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    • Move Light Sound Life Ahhhhh. That is how you do it. Thanks for the help. 

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