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How do I match my credit card transfers when the numbers are different?

I downloaded my transactions for my checking account and my credit card. When a payment was made, the amount I paid is correctly showing a transfer from checking into my credit card account. However, the amount gets split between the principal and the interest and only the principal amount is showing in my transactions for my credit card. So the amount transferred out of my checking account, and the amount that is shown in my credit card transactions are different. How do I record my payments so I can match the transactions but have the correct balance?

Example:
checking account shows: -$1,000
credit card account shows: +$910

Best Answers

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Why are you using a split transaction for that card payment? 
    Is interest being charged to your card? If so, then that interest should be input as a separate transaction into the card account .... and then the entire $1000 transferred from checking.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • KareBear
    KareBear Member
    I'm not splitting it. When I download, it says -$1,000 in checking and +$910 in the credit card account.
    I've been trying to match account transfers, but because the numbers are different, I can't do that.
    I'm trying to figure out the best way to record where the money is going, and right now the interest looks like it poofs into thin air.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Was $90 actually paid towards interest on that card (per your statement)?
    If so, I'd split the payment in the CARD account and show $1000 coming in from checking and MINUS $90 going to interest.
    Thus, both your checking account balance and your card account balance will go down ... and you'll have a $90 interest expense.
    OR, you can delete that $910 in the card account, record a transfer of $1000 from checking to savings and, when reconciling the card account, record $90 interest.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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