The simple explanation is, when I use the Credit Card Account (Not linked Externally to anything) and I charge Something, When I put in an Entry, I use Withdrawal
because that's what it is, then when I pay it, it's a Deposit, so ti will keep track of how much I still owe on the Credit Card.
The problem is, MMEX thinks the deposit is Income. And it messes with every account and report, making them wrong.
If you need a simple step by step I can do that.
I also Withdraw from the Checking Account (Not linked Externally) When I pay the Credit Card. For the Record.
It gets really confusing when you have a Bank Account/Checking and a Credit Card and a Cash Account, Witht he Cash account being where I keep track of most purchases and stuff. Only using the Checking and Credit accounts to keep track paychecks deposited and credit card usage/owed.
Credit Card issue
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Re: Credit Card issue
Have you considered using a transfer from your checking to your credit card account? It isn't a perfect solution in money manager ex since transfers show the same date in both accounts (which may not true in real life), but it means it no longer shows as income or expense.
The alternative is to keep doing what you are doing but make sure to mark the deposits and withdraws with a "transfer" category. Then in the reports you can see what needs to be subtracted from the income/expenses.
The alternative is to keep doing what you are doing but make sure to mark the deposits and withdraws with a "transfer" category. Then in the reports you can see what needs to be subtracted from the income/expenses.
Re: Credit Card issue
I suppose this solution is good enough.
I have a Bank Account and a Credit Card account. At the beginning of every month, I pay for all my purchases made with my credit card. It looks like one sum of money, which I "transfer" to my Credit Card account.
So at my Bank Account, I see just 1 row and 1 sum without any details.
At the same time at my Credit Card account, there are details of all the purchases I made within previous months with the exact dates of every purchase. The summary is always equal to 0.
For example:
Bank Account:
01/05/2022 - Credit Card transfer of $300
Credit Card account:
01/05/2022 - transfer from Bank Account $300
_____30/04/2022 - withdrawal $60 Car - Gas
_____25/04/2022 - withdrawal $140 Home - Insurance
_____14/04/2022 - withdrawal $100 Personal - Present
60 + 140 + 100 = $300
In addition, I can add a custom field for an additional date if I need it.
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Re: Credit Card issue
@Dandy
Here's a post that I (Martin Armstrong/tactilis) made a year ago when a user (you I think, Dandy/Dandy64 ?) was puzzled by how to handle credit card transactions.
"If you are wondering how to handle transactions in a credit card account (i.e. withdrawals) and how to show a transfer from your bank account when you pay off the credit card bill, then you may want to study these two posts:
viewtopic.php?p=22054 Note the use of withdrawals and transfers.
viewtopic.php?p=22008 Follow the link to the github post mentioned and read the advice there."
Assuming that you are Dandy64 on github, you wrote "Wow, I got it! Thank you very much! You and Vomikan made my day!".
So what's changed since then?
Here's a post that I (Martin Armstrong/tactilis) made a year ago when a user (you I think, Dandy/Dandy64 ?) was puzzled by how to handle credit card transactions.
"If you are wondering how to handle transactions in a credit card account (i.e. withdrawals) and how to show a transfer from your bank account when you pay off the credit card bill, then you may want to study these two posts:
viewtopic.php?p=22054 Note the use of withdrawals and transfers.
viewtopic.php?p=22008 Follow the link to the github post mentioned and read the advice there."
Assuming that you are Dandy64 on github, you wrote "Wow, I got it! Thank you very much! You and Vomikan made my day!".
So what's changed since then?
Re: Credit Card issue
Hi Martin,
Yep, it was my question indeed
So I have taken your advice and since I have no problem with the management of my credit card payments.
I have found another user puzzled with the same problem, so instead of searching the old post I just shared my experience.
Yep, it was my question indeed
So I have taken your advice and since I have no problem with the management of my credit card payments.
I have found another user puzzled with the same problem, so instead of searching the old post I just shared my experience.
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