Credit Card Balance Off

Here I thought I had the credit card section all figured out...

First I reconciled my AMEX card June 12th. It was PIF. There have been 4 transactions since totaling $-55.92. Correctly found on the left side of screen. At the top of the screen "payment amount" is $53.94 a difference of $1.98. The 4 transactions were budgeted for and I can see they were removed from the appropriate categories, so why the $1.98 difference?

The next problem is a rewards problem. I have read several threads and tried to follow nolesrule  and HappyDance  advise but am failing miserably! This would be the 5th transaction to AMEX for the month of June.

I spent 196.93 at Amazon. I used $130.00 in points for this transaction leaving $66.93 to be spent from the budget. The category (School) had $550 available. I have tried to do a split transaction where the $130.00 is income and the remainder comes from the budget, but the school category still reflects -196.93.  The Payment  available amount is now  $176.79 but the account shows $ -122.85 which is correct according to AMEX. 

I would like to have the report accurately reflect how much is spent on school. Am I making this too complicated?

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  • For the Amazon card just ignore the rewards and put in the actual charge amount.  It was a discount on the purchase. 

    In the future take a statement credit. You lose out on rewards by applying it to a purchase. 

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      • Bezona
      • Formerly Gold Rhythm 3
      • Bezona
      • 4 mths ago
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      • Reported - view

      nolesrule Thank you, that brought my card back to balance less the $1.98 that I will either find or will have to budget. 

      How do you suggest that I accurately show how much I really spent on school?  Or am I being too picky? The $130.00 item was an extra that I did not "need" hence the reason for using the rewards points. 

      Reply Like 1
  • So, if you want it to be accurate, you'd do a split as follows in the Amazon CC account:

    Top Line Outflow $66.93

    Split 1 Inflow To Be Budgeted $130

    Split 2 Outflow School Supplies $196.93

    If the CC payment category does not match the card balance, then you would move money from the CC payment category to TBB (or vice versa) to get it back in sync. Then you would adjust the budget to get TBB to zero.

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