I think I might be being a little dense.... When you pay for your gas with a credit card, doesn't that amount come out of your "Gas" (or whichever) bucket and that's that? When you make the cc payment from your checking account, that amount goes towards the "Debt Repayment," doesn't it? Why would you need to split?
Karen On 2-Jan-09, at 12:09 PM, The Watkinson Family wrote: > > Jaysen, > > Yes, you would split the amount paid to the credit card. You wouldn't > two write two checks (you could, but there is no need to). One part > of the split would be assigned to Debt Repayment, and the other part > would not be assigned. > > The trick would be to figure out what's Debt Repayment, and what has > been spent according to my spending plan this month? MoneyWell can > help determine this. If you go to your credit card account, and > select all transactions from a given month, the total of those > transactions appear in the lowest part of the window. This amount > should be the amount that is not assigned in the split. > > Anything you pay to the credit card company beyond that is Debt > Repayment. > > Does this make sense? > > Blair > > On Jan 2, 2009, at 7:51 AM, Jaysen wrote: > >> >>> If I buy an gas with my credit card, then I assign that transaction >>> in >>> my credit card account to my automobile bucket. When I pay that off >>> with my checking account (using a transfer assuming I track both >>> accounts), I don't assign a bucket to either side of the transfer. >>> If >>> I did, I'd be spending the same amount twice. >>> >>> If I have a balance on my credit card when I start using MoneyWell, >>> then I assign a bucket (mine is Debt Repayment) only to the >>> transaction on the checking account side. This is done because I am >>> spending the money on debt reduction. >> >> Still working on wrapping my head around this. Let me ask another >> question about the actual payment. When I write a check to the CC >> company, how would you account for it the various amounts? Do you >> split XXX from debt repayment and not categorize the rest? Are you >> writing 2 checks? >> >> Not questions the theory, but looking for implementation. >> >> Thanks. >> >> Jaysen >>> > > > > --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
