My experience and practice is the same.
--
Chris Cowles
Gainesville, FL



"Mark Horn" <mark[at]hornclan.com> wrote in message
news:slrnd0dptp.5bh.mark[at]home.hornclan.com...
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On 2005-02-06, BJT <BJT[at]discussions.microsoft.com> wrote:
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The way that I handle this is that I create a scheduled transaction
in Bills & Deposits that is a transfer from my checking to my
credit card account. The transaction is scheduled to occur at
the time of the month when I sit down to pay the credit card bill.
At which time I simply go into B&D and record that transfer with
the amount that I paid. This will enter a record of the transfer
in both the checking account and the credit card account.

Eventually, I'll download the withdrawal transaction from the
bank and the deposit transaction from the credit card company.
(They're usually a couple of days apart.) Money will see that the
amounts in each account match an existing transaction and match the
downloaded transactions to the existing transactions. And, because
the original transaction is a transfer, Money will leave that alone.

The only bad part about this is that the dates don't end up being
consistant. Because the credit card company records the transaction
a few days earlier than the bank, the date of the transaction
almost always ends up being the date of the bank's transaction
because it occurred last. There's simply no way to mark a transfer
with two different dates. IMHO, this is not worth worrying about.
So I usually ignore it.

In microsoft.public.money, BJT wrote:

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There is more than one good way to download your credit card
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".

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".

I understand WHY there needs to be a credit in the account to match the
debit in the account making the payment. Duh. What I was asking was HOW did
the second one--the one that's not the other half of a Transfer or Credit
Car Payment--get in your Money register? Downloaded transaction data from
the credit card company??? If so, see http://umpmfaq.info/faqdb.php?q=147.

"BJT" <BJT[at]discussions.microsoft.com> wrote in message
news:525BCE72-CE76-4819-B564-1A8211C48D2E[at]microsoft.com...
- quote -

The reason the other transaction is there is because the credit card company
records a credit. All my credit cards say "Payment Received" transaction and
then it brings the amount I owe back to zero. That's why I am having trouble
adjusting the balances. I thought the two would jsut cancel out and not be
in my expenses.

"Dick Watson" wrote:

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Credit Card Payment:[name of account] or, more normatively, Transfer:[name
of credit card account] is surely the "right" way. How did the other credit
get there? Downloaded transaction data? If so, see
http://umpmfaq.info/faqdb.php?q=147.

"BJT" <BJT[at]discussions.microsoft.com> wrote in message
news:73941030-BFCD-4A46-BB8A-BEBC5912480B[at]microsoft.com...
- quote -

I wanted to get my credit card payment off of my expense categories and so I
categorize the payment to my credit card in my bank as "Credit Card Payment :
Discover Card Credit Card" it goes into my credit card account and adds an
additional credit to that accout. I already have a payment in the credit
card account and all that does is make two credits. Thus making it look like
I have a lot of money paid into the credit card and it makes the credit card
balance the opposite. Do I need to delete a transaction in one of them? I
don't want to because I want to see when I go into my account were the money
is going. Right now to balance my account I changed the bank's category to
"Reimburshed Expenses" under "Incomes" even though it is an expense.