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| That's a great way of explaining it. I think the lightbulb has recently gone off for me, but perhaps only partly. I have come to realize that Money 2002 is definitely with it's faults. I've sworn off using the Credit Card Payment category ever again because it completely screws up my budget. I'll just record credit card payments as transfers from now on. Now, however, I can't fix the budget mess I got myself into! - quote - > -----Original Message----- > Something tells me you are messing with electronic transactions and > downloaded transaction data without really understanding how Money works > first. Perhaps I'm wrong. > What do you mean you "pay [your] credit card account using the Money > register"? > What do you mean "it shows 'From XYZ Credit Card' being paid to 'XYZ Credit > Card.'" > The general drill is to setup a credit card liability account and a checking > cash account. When you pay the credit card account you enter a transaction > in the checking cash account register where the Payee says whatever you want > it to say, the amount is set to the amount of the payment, and the category > is set to "Transfer:[name of credit card acct]" or, less clearly in terms of > what's really going on in Money, "Credit Card Payment: [name of credit card > acct]". > In general, these Transfers (Credit Card Payment is just a seemingly less > confusing name for Transfer that delays the point where the light bulb comes > on for the user and the understand what's going on) don't show up in the > Income and Expense report since they are not income nor expense. You got > poorer (Expense) when you spent money with the credit card to buy stuff. You > get richer (Income) when you deposit a paycheck in the checking account. > When you transfer money from the cash account to the liability account you > got neither poorer nor richer. > "Monica" <anonymous[at]discussions.microsoft.com> wrote in message > news:04c201c399bb$4da0e530$a401280a[at]phx.gbl... > > I pay my credit card account using the Money register. I > > now am trying to run a Monthly Income and Expenses report > > and I find all my payments coming up in "Income > > Unassigned." When I click on one of those individual > > payments, it shows "From XYZ Credit Card" being paid > > to "XYZ Credit Card." Obviously I have set the accounts > > up incorrectly, but I"m not sure what to do. Can anyone > > help? > . |
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| Something tells me you are messing with electronic transactions and downloaded transaction data without really understanding how Money works first. Perhaps I'm wrong. What do you mean you "pay [your] credit card account using the Money register"? What do you mean "it shows 'From XYZ Credit Card' being paid to 'XYZ Credit Card.'" The general drill is to setup a credit card liability account and a checking cash account. When you pay the credit card account you enter a transaction in the checking cash account register where the Payee says whatever you want it to say, the amount is set to the amount of the payment, and the category is set to "Transfer:[name of credit card acct]" or, less clearly in terms of what's really going on in Money, "Credit Card Payment:[name of credit card acct]". In general, these Transfers (Credit Card Payment is just a seemingly less confusing name for Transfer that delays the point where the light bulb comes on for the user and the understand what's going on) don't show up in the Income and Expense report since they are not income nor expense. You got poorer (Expense) when you spent money with the credit card to buy stuff. You get richer (Income) when you deposit a paycheck in the checking account. When you transfer money from the cash account to the liability account you got neither poorer nor richer. "Monica" <anonymous[at]discussions.microsoft.com> wrote in message news:04c201c399bb$4da0e530$a401280a[at]phx.gbl... - quote - > I pay my credit card account using the Money register. I > now am trying to run a Monthly Income and Expenses report > and I find all my payments coming up in "Income > Unassigned." When I click on one of those individual > payments, it shows "From XYZ Credit Card" being paid > to "XYZ Credit Card." Obviously I have set the accounts > up incorrectly, but I"m not sure what to do. Can anyone > help? |
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| I pay my credit card account using the Money register. I now am trying to run a Monthly Income and Expenses report and I find all my payments coming up in "Income Unassigned." When I click on one of those individual payments, it shows "From XYZ Credit Card" being paid to "XYZ Credit Card." Obviously I have set the accounts up incorrectly, but I"m not sure what to do. Can anyone help? |
| Tags |
| 2002, account, card, credit, money |
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