double counting

Marty24
Quicken Windows Subscription Member
I have a credit card listed to Quicken along with checking account. When I use the credit card the purchase shows as an expense in Quicken. When I pay the credit card bill that also shows as an expense so its double counting the purchases. How do I set the credit card payment so it doesnt show as an an additional expnse.
0
Best Answer
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Do you have a credit card account set up in Q? You card purchases should be recorded there ... and when you PAY the credit card record the transaction as a transfer from your checking account to the credit card account. You record a transfer by using, in the checking account, the name of the card account enclosed in square brackets, e.g. [VISA] as the category.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0
Answers
-
Do you have a credit card account set up in Q? You card purchases should be recorded there ... and when you PAY the credit card record the transaction as a transfer from your checking account to the credit card account. You record a transfer by using, in the checking account, the name of the card account enclosed in square brackets, e.g. [VISA] as the category.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
thanks0
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