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Posted by John Pollard on April 19, 2008, 9:16 pm
Please log in for more thread options Ben Yomen wrote:
> wrote:
>
>> I was just looking at the Expenses graph for one of my credit
>> cards.
>> My dates are "Year to date"
>>
>> The payments made to this credit card (transferred from
>> another
>> account) appear on the Expenses graph as a negative expense,
>> with a
>> category of "Other".
>>
>> I'm sure that other accounts will appear the same... just
>> haven't
>> looked too closely yet.
>>
>> Why do these payments appear on the Expenses graph at all?
>> How can I
>> see my TRUE expenses?
> I had this same problem. Essentially it is doubling your
> expenses on
> the cards. First as the charges in their categories, then as a
> 'credit
> card expense' when paying the credit card bil from checking.
If you understand "transfers" in Quicken, you'll realize this
isn't really true. [The op acknowledged transferring the
payment to the credit card account).
> Quicken Help recommends assigning the credit card payment as a
> transfer to the card instead of assigning a category as
> payment,
> credit card, other, etc.
>
> It adds a little work each time you pay, but only shows the
> true
> expenses in the reports and spending results.
Actually, I find this adds no additional work.
> The date of payment from the checking account and date of
> payment
> posted to the credit card will be off a few days.
> Assign the transaction from the checking account as a
> transfer.
>Then
> delete the payment transaction that downloads from the credit
> card
> account when it shows up.
No. Do not delete the downloaded payment.
If you have entered the transfer before you ACCEPT the
downloaded payment, the downloaded payment will "match" the half
of the transfer that is already in your Quicken account. Not
only will no "duplicate" be created when you Accept the
downloaded transaction ... but you will get the advantage of
having the existing Quicken transaction updated to indicate that
it was "downloaded" (which will remove it from consideration for
future "manual match" consideration), but will also have the
"date posted" assigned to the existing Quicken transaction
(albeit, in a mostly invisible way).
To repeat: you do not need to, and you should not, delete the
downloaded transactions for a credit card payment ... or the
transactions for any other legitimate Quicken "transfer".
--
John Pollard
First initial underscore Last name at mchsi dot com
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