Credit Card Payment

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This discussion was created from comments split from: New Fidelity accounts have zero balances when they shouldn't.


  • janebob
    janebob Member

    how do you post a credit card payment from your checkbook to the credit card account so it deducts from checking and shows paid in credit card. What is the best way to set this up and track categories in budget

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭

    You post the credit card purchases in a credit card account using categories.

    THEN, when you pay the card bill … it's recorded as a transfer from checking to that card account

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭

    The proper way is to set up a credit card ACCOUNT and enter the charges into it when the purchase is made and assigning it to a category. The transactions need to be entered with the date you charged it, not the date you pay the credit card bill.

    Then when you pay the bill you TRANSFER the payment from your checking account to the credit card account. Then when you download the payment from the bank you match it to the one you already entered.  Then your credit card account should match what you actually owe at any time.

    When you enter the payment in your checking account you put the credit card account name in for the category using square brackets around the name to indicate it is a this… [credit card] or newer versions have a Transfer column.

    I'm staying on Quicken 2013 Premier for Windows.

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