MATT V wrote:
- quote -

Simple resolution. Record the transaction in the checking account as a
credit card payment. When you download the transaction from the web-based
service, click the change button. Then match it to the existing payment
transaction from the checking account. That merges them. Assuming you enter
the payment description consistently, future download will probably match
automatically.
--
Chris Cowles
Gainesville, FL

The way Money wants you to do this is to think about the individual
transactions as "expenses," but not the credit card payment. It's actually a
transfer. This seems stupid to a lot of people, including me, but it is the
way Money works.

When you get your credit card statement, enter the transactions, or download
them from the credit card company, if Money supports that FI. You get a
negative balance. Then, when you download transactions from your checking
account, categorize the payment as "credit card payment:FI Name" or
"transfer: FI Name." They do the same thing. Money will enter a
corresponding transaction in the credit card account that offsets the
negative balance you got when you purchased things with the credit card.

What you want to do is forecast cash flow, not budget expenses, according to
Money. The only problem is that Mondey doesn't do cash flow very well at
all, so if you want to figure out how much money you will have left over
after you pay your bills, including the credit cards, you have to do it in
Excel or something.

This is supposedly the right way to do things. However, there are lots of
non-anal, non-accountant people who don't pay off their balances every
month, and for whom the "right way to do things" is irrelevant, because they
already had run up the credit cards, and got used to financing their
lifestyle that way, long before they ever heard about this.

We can't use the budget, either, and the DRP is useless without an assist
from Excel and a lot of work, because YOU have to figure out how much money
you have left to put toward the credit cards, no matter what. If it feels
like a value judgment, it does to me too. Just wait until Advisor FYI starts
nagging you about what a miserable excuse for a human being you are. I had
to turn it off. It was like my mother was living in my computer.

YMMV,

Susan

"MATT V" <mvankirk[at]verizon.net> wrote in message
news:eFz%e.2950$kl3.2832[at]trnddc08...
- quote -

I am using Money 2006 and just signed up for electronic downloads of my bank
and credit card statements. My wife pays the credit cards through my banks
web-based service. Then when the bank and credit card download directly
into money-there is an electronic credit card payment from the bank and the
credit card company receives an electronic payment.

The problem is that the credit card transactions get categorized (from the
credit card download) and the credit card payment (from the bank) is one
lump sum expense and thus essentially double counting my expenses. I tried
doing the special transfers, but that tends to mess up the balances.

I would imagine that this problem is not unique to me. So if anyone has a
solution, I would be extremely appreciative. Thank you.

Best regards,
Matt