CATEGORIZING MY CREDIT CARD PAYMENTS
My credit card payments come up as a transaction just like anything else which I understand because it is activity on my accounts. However, it automatically categorized itself under the "To Be Budgeted" category and now my To Be Budgeted is extremely negative and I can't budget anything else until it's fixed. I need help as soon as possible!
Credit card payments should be transfers from your checking account to your credit account. If you direct import, there’s no way for the program to know that the transaction should be a transfer. To fix this first one, edit the payee section of the transaction to make a transfer. For your next one, input the transfer manually before it imports, say, when you schedule the transaction. The software will match the downloaded transaction to the transfer that you put in, and from then on it will know that transactions with that name should be transfers instead.
WordTenor is exactly right! :)
To correct credit card payments if they import as regular inflow/outflow transactions:
- Click on the credit card account in the account list to view your Register.
- Locate the imported payment and click on it.
- Click on the Payee field and click Payment or Transfer.
- Select the account the payment came from underneath the “Payments and Transfers:” heading. (Don’t worry, the other side of the transfer—in the checking account—will be matched automatically.)
- Click Save and you’re done! The payment will now be reflected in your Credit Card Payment category, and any future imported payments will be imported as transfers just as you’d expect.
If you have any questions about importing payments—or any type of transfer—take a look here. :)