My credit card payments in the monthly budget appeared to be off or less than they should be. I realized I think that the account paying the card off and the card account receiving the payment balanced the transaction so it essentially is a 0 in my budget. How do I see the actual credit card payment amount as a total ? i.e. if I budgeted 500 and paid 500 I am not seeing that.
-400 from cking
+400 to cc
-35 for another card
Budget shows -$35 for that month when I want it to show -$535
So for me i don’t typically count credit card payments in my budget since the transactions charged to them are reflected already (if the statement period is within the month) the exception to this would be if there is debt on a credit card, then i count it as a budget item category but I’m not going to actively use that card to simplify things.
The way the categorization would look like for me is
-400 from cking (credit card transfer) that’s my category name with type as transfer
+400 to cc (credit card into account) an additional category with type transfer as well
-35 for another card (credit card transfer)
This is assuming these are just used and paid off for me.
If debt, then i have an additional category that matches the account name (this is due to working with the debt planner sheet) this would be a type expense and would be reflected in my monthly budget. Only the negative transaction exiting the checking account would get this category. The matching one would need to be a transfer to keep the budget in order.
The reason the budget amount is off is most likely due to categorizing both transactions The negative from checking and the positive into credit account the same, this will essentially cancel out the actual for that month.
Hope that makes sense.