How To Assign Downloaded Credit Card Payments

[SpiralOcean]

I have my checking account and credit card account set to
automatically download into MoneyWell.

When I make a payment from my checking account to my credit card, a
transaction shows up in the credit card account and in the checking
account.

I am going through all my unassigned items from each account.

How do I handle items like this where there is basically a transfer
happening, but there is already an entry in each account?

The solution I came up with is to create a credit card payment
bucket. I can then assign the credit card payment from my checking
and my credit card to the bucket. The bucket should always have a 0
balance.

Any other suggestions?

[Blair Watkinson]

A simpler approach might be to select the transaction in your checking account and assign it as a transfer to your credit card in the panel on the right side of the screen below "Account."  Just set the "From" field to your credit card account.

Then, delete the downloaded transaction from your credit card ledger.

Happy New Year!

Blair

[SpiralOcean]

That is a good approach. I hadn't thought about deleting
transactions. It feels taboo to delete a transaction that's been
downloaded from my account.

Going with this idea, I decided to start fresh today. I deleted all
transactions earlier than today, updated my starting balance to
today's balance, and am off and running.

Thank you for kickstarting my brain.

[Karen]

It seems like deleting is a hard way to do this. When I pay a credit
card, the Payee is the Bank, the bucket is Debt Repayment. When I get
to the credit card side, the Payee is "Payment" and no bucket is
assigned. I don't mess with Transfers. I hope I'm making sense. (Happy
New Year to all.)
Karen

[Kevin Hoctor]

On Jan 1, 2009, at 10:30 AM, SpiralOcean wrote:

If you have an item that's a transfer and has already been downloaded
into both accounts, if you change one side into a transfer, you should
be able to click "Show Matching" and then Command-Option-R to review
duplicates and merge the two in the other account.

Let me know if this doesn't work for you.

Peace,

Kevin Hoctor
ke...@nothirst.com
No Thirst Software LLC
http://nothirst.com
http://kevinhoctor.blogspot.com

[SpiralOcean]

Even better. That way I'm not deleting any actions and also using the
transfer ability to show matching.

Thank you for the help.