risk of overdraft

Richard Sturgeon

I have a 24 month same as cash account if i enter it as a regular charge i get a message that tells me i have a risk for over draft. prob because the charge is 8000.00 and there is only around $6000.00 in the checking account. how can this be dealt with so it does not show as a possible overdraft?

Tom Young

Some more detail, please.

"I have a 24 month same as cash account "

I assume you're referring to a situation where either the credit card company or the seller is promoting this, with the understanding that if you make the 24 payments in a timely fashion no interest will be charged. But it's unclear if you have this set up as a separate Account in Quicken as a Liability Account or not.

"if i enter it as a regular charge i get a message that tells me i have a risk for over draft, prob because the charge is 8000.00 and there is only around $6000.00 in the checking account."

I think the issue here is that you should not be entering the purchase (presumably that's the $8,000) into the checking Account because it's not a reduction in your checking Account, it's a situation where you've taken on a new liability. If the seller is behind this offer then create a new liability Account in Quicken and place the charge (increase in liability) there, offset by whatever Category or Account you deem to be correct. Subsequent payments will be entered as a Transfer from checking to the liability Account, eventually driving it to $0.