Best way to enter in benefit repayments?
For my medical expenses, I commonly use my credit card to pay for them. When I submit the expense to my benefit company, the refund comes into my bank's checking account. As soon as that refund comes into my checking account, I move it to my credit card to cover that original cost. What is the best way to show this transaction in both my accounts and my budget?
It's a typical reimbursement situation and you can use one of the reimbursement workflows: https://docs.youneedabudget.com/article/183-reimbursements
This means it is advisable to have separate categories for medical expenses that are eligible for reimbursement and those not eligible.
In the Temporary Overspending workflow, the 2 cases can be summarized in the following way. If the Available of the category is ever green, move the money to the CC payment category.
Ivory Drill said:
As soon as that refund comes into my checking account, I move it to my credit card to cover that original cost
The timing on when you pay your CC does not matter except you need to ensure the CC payment category has enough money in to cover the transaction. To enter that transaction, it is a transfer between the 2 accounts. No category. It will reduce the CC payment category on the budget screen.