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| In microsoft.public.money, "Steven C" <Steven C[at]discussions.microsoft.com> wrote: - quote - > I'm currently running Money 2005. The problem I'm having is with credit card
There is more than one good way to download your credit card> payments. In my regular bank account anytime I make a CC payment I use > "BILLS: Credit Card Payment" as the catagory. This works just fine... > However, now that I can download my credit card statement with 2005 it's > showing those payments as "income". So, when I run monthly reports it's not > showing my true income for the month, it's showing my payroll checks plus all > the credit card payments. > Anyone has an idea of what category I can use in the CC account for those > transactions? I can't count them as income since it wasn't income. data and have also the payment downloaded from a checking account. Here are two ways I like: 1. When you process the first transaction of the credit card payment, set the category as a transfer to the other ( credit card or bank account), or use the equivalent "SPECIAL Credit Card Payment" category. When you process the second transaction,Money should match it. Be careful to not just Accept if Money did not find the match on its own for some reason. Click Change and match it to the transfer you already made if Money did not match it for you. I would consider this the classic of the ways I like. Note that for this you would *not* use the Money 2005 "EXPENSE Credit Card Payment". Instead you should consider deleting that "EXPENSE Credit Card Payment" to avoid confusion. 2. In method 2, don't handle credit card payments as transfers or the pre-defined "Credit Card Payment Instead create one category of "CC payment" or some such. If you define the category as an expense category, expect a warning when you use it to represent the payment within the credit card account -- if you have the warning enabled. Just click Yes in response to the warning. The category should net at zero in reports across accounts, and you can still customize to ignore the category if you like. use the Money 2005 "EXPENSE Credit Card Payment". For this method you *could* use the Money 2005 "EXPENSE Credit Card Payment". |
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| figured it out. Needed to switch to advance register from essential... "Steven C" wrote: - quote - > I'm currently running Money 2005. The problem I'm having is with credit card > payments. In my regular bank account anytime I make a CC payment I use > "BILLS: Credit Card Payment" as the catagory. This works just fine... > However, now that I can download my credit card statement with 2005 it's > showing those payments as "income". So, when I run monthly reports it's not > showing my true income for the month, it's showing my payroll checks plus all > the credit card payments. > Anyone has an idea of what category I can use in the CC account for those > transactions? I can't count them as income since it wasn't income. |
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| I'm currently running Money 2005. The problem I'm having is with credit card payments. In my regular bank account anytime I make a CC payment I use "BILLS: Credit Card Payment" as the catagory. This works just fine... However, now that I can download my credit card statement with 2005 it's showing those payments as "income". So, when I run monthly reports it's not showing my true income for the month, it's showing my payroll checks plus all the credit card payments. Anyone has an idea of what category I can use in the CC account for those transactions? I can't count them as income since it wasn't income. |
| Tags |
| card, catagory, credit, payments |
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