Thanks for the information. That makes sense. So basically I should probably use one debt repayment bucket for all my credit cards and transfer to each credit card under 'accounts' when I make a payment. I plan on entering the account information manually so interest gets accounted for.
Thanks for the information. Paul On May 30, 12:55 pm, Karen <[email protected]> wrote: > Hi Paul... I can help with your first question.... > > Probably the best way to handle your credit cards is to have a bucket > named "Debt Repayment" under your checking account. Your credit card > accounts will be set up on their own in "Accounts." When you use the > card, the transaction will be under the pertinent card/account and you > will name whichever bucket the expense came out of. > > I don't download my credit card bills as I don't use them very much. > When I pay my credit card, I use the "Debt Repayment" bucket in my > checking account and use the "Transfer" feature drop down menu for the > card/account the payment is going into. The amount is then credited to > my cc account in MW. > > Does this make sense? I was up late last night. It's great software > with a great support group and a Prince of a developer. :-) > Karen > > On 30-May-09, at 12:57 PM, paul wrote: > > > > > > > Hello, > > Just started with Moneywell on a friend's advice and think it's a > > great package. But I do have a couple questions: > > > I've read some of the posts about credit cards and watched the > > tutorials but I'm still unclear how to handle these in moneywell. So > > far what I've done is setup a bucket for each credit card (2 cards). I > > don't actively use these cards and don't pay them off every month. > > Should I also create accounts for each card so I can track the balance > > on the cards? Not sure if this is the way it's normally done. > > > Second question is setting up the timings for each month on buckets. I > > get paid on the 1st and 15th so most of my buckets are set up for > > either the first half or second half of the month but some are set up > > for all month. So on the 1st after it allocates to all my first half > > buckets will it just take the remainder and apply it to all the > > buckets timed for all month based on priority? And the second half > > would do the same? I just want to be clear on it. Thanks again, so far > > great product. > > > paul --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
