Loading Profile...
credit card payments
I have two accounts. My checking account and my credit card. When it comes time to pay my credit card each month I do it from my checking account. But there doesn't appear to be a way to make it so that my payment from my checking account is essentially transferring money into my credit card account. In other words... i'm really moving funds from one place to another. I saw the transfer funds UI but that doesn't let me note a check number.
Is there a simple way to do this? Do i need to enter a negative expense into my credit card account as a duplicate of my payment entry in my bank account?
I'm sure there's an obvious answer. Sorry it's escaping me right now.
Is there a simple way to do this? Do i need to enter a negative expense into my credit card account as a duplicate of my payment entry in my bank account?
I'm sure there's an obvious answer. Sorry it's escaping me right now.
I’m eager to solve this.
1
person has this question
I have this question, too!
Tell me when someone answers.
The more people who ask this question, the more it gets noticed.
The more people who ask this question, the more it gets noticed.
Create a customer community for your own organization
Plans starting at $19/month
-
Inappropriate?We just make a transfer funds for the payment.4 Comments
Add a comment
This answers the question
-
My issue is not the cheque number but rather how to use the Transfer Funds - I import all my bank data. Therefore an expense on my credit card and a deposit on my credit card are essentially redundant because the expense is always considered "paid" regardless as to whether money is put on the card. So I don't import the deposits, but then in my checking account, that same payment is considered an expense.. so I am again doubling the expense... so would it essentially be that I keep the expense in the checking account and transfer that expense amount to my cc?
Sorry, fairly new to the online accounting system AND don't have any prior training in accounting.
I appreciate your help. -
You are exactly correct. In Less Accounting paying the credit card bill from your checking account should be done as a bank transfer. If you import the deposit in your credit card (so have both the cc payment and the checking account expense) Less Accounting will try to automatically find the possible transfer when you go to the transfer funds screen.
-
Once we log a credit card payment as a "transfer funds" I guess we should also delete it as an expense? Is that correct?
-
Yes.
-
Inappropriate?right. i saw that. but... there's no field for putting the check number in there. -
Inappropriate?You can put it in the notes field. It's not the best solution, but it'll have to do until we fix it.
-
Inappropriate?oh ok. makes me feel better if you guys intend to eventually fix it.
is there an ETA? :) -
Inappropriate?No ETA yet, we're frying some really big fish right now (like cool new big features).
EMPLOYEE
