Bank Payment/Credit Card

Just bought Microsoft Money and was assigning all my purchases to categories.
The one thing I can not figure out is how to get my credit card payment (+)
and bank payment (-) to zero out.

On my report I classified the money leaving my bank as a Credi Card
purchase. I want to zero this out with a positive from my credit card.

Righ now my report is 70% "credit card/transfer"

Any help would be greatly appreciated

Cal
Wed Aug 02 12:35:52 CDT 2006

In microsoft.public.money, tlsfn wrote:

>Just bought Microsoft Money and was assigning all my purchases to categories.
>The one thing I can not figure out is how to get my credit card payment (+)
>and bank payment (-) to zero out.
>
>On my report I classified the money leaving my bank as a Credi Card
>purchase. I want to zero this out with a positive from my credit card.
>
>Righ now my report is 70% "credit card/transfer"
>
>Any help would be greatly appreciated


There is more than one good way to download your credit card
data and have also the payment downloaded from a checking account.
Here are two ways I like:

1. When you process the first transaction of the credit card
payment, set the category as a transfer to the other ( credit card
or bank account), or use the equivalent "SPECIAL Credit Card
Payment" category. When you process the second transaction,Money
should match it. Be careful to not just Accept if Money did not
find the match on its own for some reason. Click Change and match
it to the transfer you already made if Money did not match it for
you. I would consider this the classic of the ways I like. Note
that for this you would *not* use the Money "EXPENSE Credit
Card Payment". I would Delete that category.

2. In method 2, don't handle credit card payments as transfers or
the pre-defined "Credit Card Payment Instead create one category of
"CC payment" or some such. If you define the category as an
expense category, expect a warning when you use it to represent the
payment within the credit card account -- if you have the warning
enabled. Just click Yes in response to the warning. The category
should net at zero in reports across accounts, and you can still
customize to ignore the category if you like. For this method you
could use the Money "EXPENSE Credit Card Payment".

tlsfn
Wed Aug 02 13:44:00 CDT 2006

Thanks for the help. I still have a slight problem

For 1. I am not sure how to set the credit card payment category as a
transfer to my bank account. I can go to my credit card statement, find the
transaction but when I click the category drop down I do not have that
option. I do have an optiont that says "Xfer to Deleted Account"

For 2. I believe I was able to do this. So now my report chart is still not
right. When I right click the "Credit Card Payment/Transfer" and hit "edit"
it shows just the bank transfer. However if I righ click then hit "view
categories" it shows the bank transfer (-) and the credit card (+). With the
sum being zero. It is just wrong in the overall graph.

"Cal Learner-- MVP" wrote:

> In microsoft.public.money, tlsfn wrote:
>
> >Just bought Microsoft Money and was assigning all my purchases to categories.
> >The one thing I can not figure out is how to get my credit card payment (+)
> >and bank payment (-) to zero out.
> >
> >On my report I classified the money leaving my bank as a Credi Card
> >purchase. I want to zero this out with a positive from my credit card.
> >
> >Righ now my report is 70% "credit card/transfer"
> >
> >Any help would be greatly appreciated
>
>
> There is more than one good way to download your credit card
> data and have also the payment downloaded from a checking account.
> Here are two ways I like:
>
> 1. When you process the first transaction of the credit card
> payment, set the category as a transfer to the other ( credit card
> or bank account), or use the equivalent "SPECIAL Credit Card
> Payment" category. When you process the second transaction,Money
> should match it. Be careful to not just Accept if Money did not
> find the match on its own for some reason. Click Change and match
> it to the transfer you already made if Money did not match it for
> you. I would consider this the classic of the ways I like. Note
> that for this you would *not* use the Money "EXPENSE Credit
> Card Payment". I would Delete that category.
>
> 2. In method 2, don't handle credit card payments as transfers or
> the pre-defined "Credit Card Payment Instead create one category of
> "CC payment" or some such. If you define the category as an
> expense category, expect a warning when you use it to represent the
> payment within the credit card account -- if you have the warning
> enabled. Just click Yes in response to the warning. The category
> should net at zero in reports across accounts, and you can still
> customize to ignore the category if you like. For this method you
> could use the Money "EXPENSE Credit Card Payment".
>