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Double debiting of credit card expenses

Under "spending", I see all credit card transactions as debits. I also see the payment of the credit card as a debit. That seems to be a double debiting of those expenses. How do I avoid the doubling of those expenses?
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Best Answer

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Accepted Answer
    How did you record that payment to the credit card?  Because it should have been recorded as a DEBIT in your checking account and as a transfer from that account to your Card account.
    ALSO, double check (by doing TOOLS, Account List, and then clicking the word EDIT adjacent to those 2 accounts) that the Checking is a TYPE = Checking and that the Credit Card is a TYPE = Credit.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Accepted Answer
    How did you record that payment to the credit card?  Because it should have been recorded as a DEBIT in your checking account and as a transfer from that account to your Card account.
    ALSO, double check (by doing TOOLS, Account List, and then clicking the word EDIT adjacent to those 2 accounts) that the Checking is a TYPE = Checking and that the Credit Card is a TYPE = Credit.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    If your credit card payment is a transfer from Checking to credit card see if You can exclude Transfers in the report or spending.
  • BobBolt1
    BobBolt1 Member ✭✭
    Thanks for the answer @NotACPA -- you nailed it.
This discussion has been closed.