Starting over but getting stuck

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  • Updated 6 months ago
Starting over because my amounts weren't equaling out. I thought I'd fixed everything, but I'm stuck on the different start dates of my checking vs credit cards. I started everything over at September 1st, which seems like it should work great, but what happens to the credit card payment from the previous month? I feel like I'm showing way less money than I actually have -- I also use quicken and know that I have significantly more money in checking that Goodbudget is showing. Am a somehow subtracting the credit card payment twice? Thanks!
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Karen

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Posted 7 months ago

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Karisa Russell, Official Rep

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Hi Karen, 

Sorry for the troubles getting started! These are great questions, and I hope I can clarify. 

It sounds like you're seeing that GB shows you have less money than you do in real life. And you're worried that it's because of the start date of your credit cards. 

In Goodbudget, you can get started at any time. And Goodbudget doesn't track credit card billing dates, so when you get started, all you'll do is enter your account balances as you see them in real life. For example, if you owe 775 on your CC on September 1, that's what you'll set your CC balance to in Goodbudget. In terms of your CC payment, if it happened before September 1, then you won't add it in. Instead, you'll just move forward with entering all transactions that happened after you got started with GB. 

You can read more about getting started here. Just a heads up, the article is called 'How to get started in the middle of the month,' but it really applies to getting started at any point in the month. 

Hope that helps!
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Karen

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Hi Karisa. 

What I'm getting stuck on is credit card payments. So, for instance, I've started up everything as of Sept. 1, but I'm paying a credit card bill from July/Aug on September 6th. How does that get accounted for? When I put it in as a transaction labeled "July/Aug credit card" it throws my checking into the red, even though I know that I have lots of money in that account. 
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Karisa Russell, Official Rep

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Hi Karen,

Good question! Your CC payment on Sept 6th will get accounted for when you add it to Goodbudget. It shouldn't throw your Checking Account in the red so long as you correctly entered the balance you had on Sept 1 when you got started.

If it's throwing your Checking Account in the red, double check that you entered the starting balance correctly -- it should match what you had in real life on Sept 1. If you need to update it, you can do that by clicking on your Created Account transaction, and then updating the amount.

Thanks again