Credit Card Purchases can't be categorized as expenses when they are paid off


I bought a $1,000 computer with my company credit card that I want categorized as Office Expenses. Since I bought it with my credit card, when I pay it off from my bank account, both transacations show categorized as a transfer. How do I account for the $1,000 Office Expense transacation?


  • UKR
    UKR SuperUser ✭✭✭✭✭

    In your credit card account register, the purchase needs to show as expense, categorized to Office Expense.

    When you pay the credit card's monthly statement from your checking account then that needs to be categorized as a transfer to the credit card account register, giving you correctly categorized transactions in both registers.

    Be careful when relying on Quicken to automatically categorize transactions correctly with the same amount on or about the same date. To be sure of the results, manually verify each downloaded transaction, make changes as needed and accept each transaction individually.
    For best results I always record my credit card payment transactions (the transfer from checking to credit card) manually when I make payment. This ensures that a correctly categorized transfer transaction already exists in both checking and credit card registers. Upon download Quicken will be able to match downloaded data to the already existing register transaction and not cause any confusion.

  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭

    What "both" transactions show as a Transfer? What is the first transaction you make when your bought it to record the purchase?

    I'm staying on Quicken 2013 Premier for Windows.

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭

    all CC entries are entered as the actual expense and category -

    when you pay the CC bill, you merely transfer that ONE payment over into the CC account - just like the real world -
    If you are not doing it this way - you should change to reflect the real world actions -

    QWin - R54.16 - Win10