Loan to family via a c/card payment

Hi, wonder if anyone may be able to assist. I have a tracking account holding a positive balance  equal to the money previously loaned to my daughter (it's my asset right?) and a  on budget category with her name on it.

Both the budgeted balance and available balance in the category is $0 as initially I budgeted it with the money I loaned her then recorded a transfer to the  tracking account using "her" category

I just helped her by paying an account using my c/card. What's the best way to record this?

Signed,

 

Confused :)

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  • This is no different than the starting balance transfer. Record an outflow transfer to the loan asset account categorized to her category in your CC account register.  Budget for this outflow in her category.

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  • Hi Green Pony !

    If you enter a transfer from the credit card to the tracking account, you'll be able to categorize it to her category. That will update your category spending and the loan balance. :)

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  • Thank you both, worked a treat!

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