Hi. I paid with a credit card a bill and then paid the credit card immediately. How do I record that? Should I use the transfer option?
It depends on whether your credit card is paid in full or carrying a balance. If it’s paid in full, you’ll just record the transaction as usual, choosing the correct envelope. The payment will be reflected as an account transfer.
If the card is carrying a balance then it’s a little more complex; you’ll need to enter the transaction on the card first as a “new charge or fee”, then transfer money from the “paying” account to the credit card to offset it. If you want to keep your envelopes up to date you’ll also need to do an envelope transfer from the correct envelope to the debt envelope so that the totals will align properly.
Glad to offer more detail if needed!
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