Checking $400 Credit Card -$100 Salary $200 So you are saying, to pay off a balance on a credit card: Create a transfer from checking to credit card (I dragged checking to credit card). Checking $300 Credit Card $0 Salary $200
Go to the Checking Account, look for the transfer, drag it to a bucket called Credit Card Balance Payment. Checking $300 Credit Card $0 Salary $200 Credit Card Balance Payment Bucket $-100 Go to the Salary income, drag it to the Credit Card Balance Payment to pay out of my salary so that the Credit Card balance Payment has a $0 balance. Checking $300 Credit Card $0 Salary $100 Credit Card Balance Payment Bucket $0 This gave me the correct amount. There are a lot of steps there, and it concerns me that I may forget to do something and not know that I have less money in my checking account than I thought I did. If transfers should always be flowed from the outgoing payment, a suggestion is to show the outgoing transfer as 1 transaction in the Unassigned smart bucket. This would help me remember that I need to do something with that transfer, otherwise my money may be off. Thank you for the assistance. On Jan 1, 12:06 pm, Kevin Hoctor <[email protected]> wrote: > On Jan 1, 2009, at 12:26 PM, SpiralOcean wrote: > > > > > Just set up new accounts today. A checking and a credit card. > > > I put in an initial balance in the checking and credit card. For > > example purpose: > > Checking $400 > > Credit Card $100 > > > I took my initial starting balance in my checking account and placed > > it into the income bucket of salary. > > Salary $400 > > > I created buckets, assigned monthly allocations, and flowed the cash. > > The amount of money in the Salary bucket went down as expected: > > Salary $200. > > > Checking $400 > > Credit Card $100 > > Salary $200 > > > I paid off my credit card by dragging from my checking into the credit > > card: > > > Checking $300 > > Credit Card $100 > > Salary $200 > > > This is a bit scary to me because my Salary staid the same. But I > > should have $100 left to allocate in the Salary? > > > I went to the transfer smart bucket, and dragged that transfer to my > > salary bucket and the salary bucket went down by $100. But only if I > > dragged the transfer from my checking account. If I dragged the > > transfer from my credit card account then my salary went up $100. > > > This is scary to me because I don't feel I can trust how much money is > > in the salary bucket to allocate? > > > Is there something I did wrong here? > > If you have a balance on your credit card that you are paying off, you > should use a bucket like "Debt Repayment" and flow your outgoing > payment (transfer) through that. This way you'll have to flow money > from your Salary bucket to that expense bucket. > > If you purchase something on the credit card and that purchase gets > assigned to a bucket and you have filled that bucket with money from > the Salary bucket, then your payment (transfer) doesn't need to be > assigned to any outgoing bucket because you are just moving money from > one account to another and the categorizing of that payment was done > with the purchase. > > So in summary: > 1. Payments on credit cards for existing balances need to be > assigned to an expense bucket because they are not for a current > purchase, whereas… > > 2. Payments on credit cards for current purchases do not need a > bucket assignment because the purchase is tracking the cash flow. > > Peace, > > Kevin Hoctor > [email protected] > No Thirst Software LLChttp://nothirst.comhttp://kevinhoctor.blogspot.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "No Thirst Software User Forum" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
