I over spent on credit card? Where?
I use a CC to only purchase from Amazon. Apparently I've overspent but I can't figure out how. I'm totally confused. Help, please!
So I figured it out although I can't understand why it works this way. So on May 5, there was a balance on the card of $604.25. I made a purchase on that day of $83.94 budgeted for in Category A. It comes in the next day and is the wrong item so I shipped it back. I got an email a couple days later stating a refund amount of $67.15, return shipping and restocking fee deducted. I changed budgeted amount to $16.79 leaving the category in the red and therefore the credit card showing overspent by the refund amount. I'm good with this. Between the 11th and the 14th I made 6 more budgeted purchases on the card from other categories. CC is still overspent by $67.15. On the 16th, the refund hit the card. I categorized it back to Category A which puts it at zero and the credit card available payment=cc balance. Great! Until....
On the 17th, I made a purchase out of checking account for $76.43 from Category A. Available is at zero but this purchase was for someone else so I don't cover the overspending. On the 18th I made a purchase for $127 out of checking from a different category, also an overspend. So apparently both of these purchases affected the credit card available amount but I didn't realize it. So today I look at my budget and notice that the payment available for credit card has gone down and it's overspent by $72.13. I'm baffled which leads to my original post. I cover the $127 overspend and what happens? Credit card available changes and I'm now only overspent by $16.79. How is this possible when the $127 charge was from my checking account?! Right now, Category A is budgeted $16.79, activity $93.22 and available negative $76.43 (spent from checking). If I budget that amount to the category, everything balances. I don't, however, understand why purchases I made from my checking account are affecting the available payment amount of the credit card.Reply
jenmas, nolesrule I looked at the purchases in the category with the $127 charge from the 18th. Yes, there is one cc purchase in that category. This makes sense now. I'll leave Category A in the red until I'm reimbursed in a couple days and I'll know going forward that I don't have to worry about the cc available amount as long as I can cover my overspends. Thanks for your help!!Reply