How to properly set up the transaction described below.

ZamazingT

Specifics: Will try to provide as much information as possible.

I purchase a product from Apple (actually several products). I charge each purchase to my Apple Credit Card. Apple allows me to make 12 consecutive payments, no interest. Each of the monthly payments are reflected on my monthly card balance due. (The full amount owed and the balance of the purchase amount owed are showed in my credit card records, but only the monthly $ amount due is reflected in the monthly card statement.) I pay my total credit card balance due each month.

What I want to have happen is to show the particular product, say an iPhone, with the total amount due and then have each monthly payment reduce the balance amount due. Apple provides this information via my credit card information kept on my iPhone, but I want it individualized in my Quicken account.

Do I need to set up each product purchased as a liability account or could each product be set up as a category? Or any other alternative? And, when the amount is on my Apple Credit Card each month, I would like for the balance due to reduced the amount and reflect the amount I still owe for the particular product. I import the transactions on my Apple Credit Card monthly.

Is there a way in Quicken for me to accomplish what I want to do?

NotACPA

Set up the Apple Credit Card as a Card account in QMac. Record the full amount of the purchase(s) there, using the categories of your choice. If you want to track the remaining amount on each purchase you'd use TAGS in QWin … I'm pretty sure the same functionality exists in QMac, but it might have a different name.

Each month, when you make the payment to the Apple Card, reflect it in Q as a transfer from your checking account to the Apple Card, thus reflecting the reduction in the amount you owe.