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Show payment to a credit card

Member since:
April 2014
Posted: Apr 29, 2014
carriejhendrix   |   Posted: Apr 29, 2014
I entered a transfer from my checking account to my credit card (to show that I was making a payment). The transaction showed as a debit (-) from my checking account, but then showed as a credit (+) in my credit card account. Basically it showed up as a deposit which INCREASED by balance rather than decreasing it. Is there any way around this? I tried to type in a negative payment, but it wouldn't work.
Member since:
November 2011
Posted: Jun 30, 2014
alonghini   |   Posted: Jun 30, 2014
I believe the situation you described is normal. When you transfer funds from the checkings to the credit card account there X will be removed from the checkings account and added to the credit card account.

In theory, your credit card account would be usually at a negative balance. Say you get a new credit card today. As you make purchases, you go from the original balance of zero to some negative number. At the end of the billing cycle, you make a payment equal to the purchases, thereby bring the balance (which was negative) back to zero.

From what I gathered, you've entered your credit card expenses as credits (i.e. positive numbers) instead of debits. I think that might be the source of the problem.
Member since:
November 2011
Posted: Nov 23, 2016
shrove86   |   Posted: Nov 23, 2016
Carrie, I just seen this and I know it is old but if you read this(and for other people who find it) you could do this. I am going to assume your credit card balance is $500. So set your starting balance at $500. Everytime you spend money(say $100) your balance drops(now $400). When you pay it back or transfer it($100 again), your balance returns to $500, meaning you owe nothing on your credit card.

Edit:I just figured something out. I am new to the credit card type accounts myself. If you set it up as a credit card account, your initial balance will be $0 if you have no charges on it. If you have, say, $500 in charges on it, make your initial balance a negative number(e.g. $-500) and then just post and pay(transfer) to and from it as normal. If you set a credit card limit and start your initial balance as I stated the 2nd time, it will keep a percentage of credit used for you.

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