"Travel category" refund and year end reporting.

Good afternoon,  So back in December I bought a trip through Priceline on my credit card.  (Car and flight).  At the time I categorized it as "Travel". It was budgeted for.  Now I just received a refund to my card.    My thought is to catagorize toe refund as "Travel" to off set the amount in my reports, and the when the "travel" catagory is now green, move it to other catagories as needed. There buy making the Travel zero in the report, and where ever I move the money also report properly.   Does that sound right?

Thanks

Tim

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  • Yes.

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  • As far as your question goes, yes. There are, however, a few other considerations that often confuse users.

    In addition to increasing the Travel category, the refund will reduce the CC Payment category. (If you haven't gotten any new cash, then the impact to the budget -- the plan for your cash -- has to net to $0.) If this takes your CC Payment Available negative, you will need to cover that from elsewhere in the budget.

    Alternatively, if this makes your CC account positive, just be aware this is considered cash (since your next purchase(s) need not be paid back). Think of the card as a debit card on a second checking account until the balance gets back down to negative territory. TBB would have been increased by the same amount, so just use those funds to cover the red Payment category.

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