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PostPosted: Sun Nov 13, 2005 7:41 am 
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Joined: Fri Nov 11, 2005 8:10 pm
Posts: 15
Location: Norwich, UK
Hello,

Firstly I'd like to say hello to all on this forum. I bought Checkbook a couple of nights ago after using it for only 10 mins! I have tried all the other finance software and this is by far the easiest to use, has a great UI, fantastic summaries, and importantly for me is a joy to use and has the support of this forum.

I have a question:

I have a credit card account and have paid money to it from my current account to reduce the amount owing. would you recommend that I do this as a debit from my current account or transfer the money to the credit card, which shows in both accounts. I have done the latter which seems to work, but is this correct?

regards

hardcat

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More people are bribed by their own money than anybody else's.


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PostPosted: Mon Nov 14, 2005 8:17 am 
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Joined: Wed May 18, 2005 11:19 pm
Posts: 539
Location: Here and There
Thank you for supporting us by registering CheckBook!

Both ways are technically correct, but your situation may favor one over the other.

Transfers can be handy because they automatically create a corresponding Entry in another Account and the values set in the Transfer in one Account will be reflected in the other, but their Type is also firmly set as "Transfer". That can make it more difficult to track down a payment Entry, unless you are filtering or summarizing by Description.

With regular Debit and Deposit Entries you do have to create the Entry in both the origin and destination Accounts and you might make a mistake while entering one of these, but you can use a Type to classify the payment in your checking Account as something useful, like "Credit Card Payment". Also, if you pay by check and would like to record the check number, you will have a place to store the check number in a regular Debit.

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