I purchased a Target gift card which was 10% off. So the gift card is worth $500.00 but I only paid $450.00. I set up an account so when I purchase I can enter the transactions and reduce the amount of the gift card but I only set it up for $450 since that was the amount leaving my checking account. How do I add $50 more dollars to balance? I have no offsetting account but want to be able to track expenses correctly.
I’m not sure quite what you mean by an “offsetting account”, so maybe this won’t work for you, but I’d create a new “bank account” called Target Gift Card with a $500 balance you can draw against, if you have that option.
Other options might be to 1 - just add a $50 credit onto the account after your $450 charge, but that will affect your budgeted dollars by adding money to an envelope, or 2 - add income of $50 to make up the difference, which will affect your income reports.
Personally, I use a separate account for the situation you describe but I understand that’s not an option if you’re not using the paid subscription.
Hope this helps!