Quicken -- Help

Discussion in 'Mac Apps and Mac App Store' started by mellowmanca, May 11, 2004.

  1. mellowmanca macrumors newbie

    Joined:
    May 11, 2004
    #1
    I have been using quicken for years, but have never really used the budgets or reporting options.

    Now, I need help... something doesn't make sense to me.

    When I pay a credit card from my checking account, it is entered as a transfer [Visa].

    Let's say that I don't charge anything on visa anymore and am just paying off the debt, this amount should show up as a category when I do "where did I spend my money" during last month report. Right? It doesn't.

    Also, it doesn't show up anywhere on my budget...

    Anyone who uses budgets/reporting? Help!

    Thanks
     
  2. Le Big Mac macrumors 68020

    Le Big Mac

    Joined:
    Jan 7, 2003
    Location:
    Washington, DC
    #2
    Didn't it show up as where you spent your money in the month you made the charge? For example, if you charged $200 for dinner and $500 for a computer last October, your report would show those charges for that month. If you had them again in April (now), you'd be double counting.
     
  3. mellowmanca thread starter macrumors newbie

    Joined:
    May 11, 2004
    #3
    Ok. this makes sense in one way. But, what about when it looks at where my money went... if I spent $200 to pay off my credit card, where does it show that in reports/ budgets?
     
  4. ftaok macrumors 601

    ftaok

    Joined:
    Jan 23, 2002
    Location:
    East Coast
  5. ftaok macrumors 601

    ftaok

    Joined:
    Jan 23, 2002
    Location:
    East Coast
    #5
    I sounds like your running a balance on your credit card. If so, you must add entries in your credit card register for "finance charges" or something like that to capture the interest you're paying.

    for example. You buy stuff on your cc for $500. You pay off $300 from your checking account. The next month, you'll be tagged with $20 (assumption) in interest. So now your cc balance should be $220. So you should have spent $500 on whatever you bought originally and $20 on interest. This is what should show up on your reports.
     

Share This Page