Transfers

Practical tips to manage your personal finance effectively. Please share your suggestions with mmex community.

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Sultec
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Transfers

Post by Sultec »

When I set the payment to a credit card from a bank account as a transfer, it puts the transfer on the credit card side as a deposit but the balance column increases. shouldn't it be a decrease?
MartinArmstrong
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Re: Transfers

Post by MartinArmstrong »

You should use MMEX in a way that mirrors the real world.

Each time you purchase something using your real world credit card, enter that transaction in the MMEX credit card account as a Withdrawal. The card account balance will become more and more negative with each purchase.

Then each month when you pay your real world credit card company from your real world bank account, do a transfer of the amount from your MMEX bank account to your MMEX credit card account.

Money is leaving your bank account (-ve) to pay into your credit card account (+ve).

Do you see?
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