For work I often pay for work related expenses and then get reimbursed by my company. While the expenses are unpaid, they are in a Work Related envelope. When I received the reimbursement, I added it as a credit/reimbursement to that Envelope. Then, when the payment made to the CC came in, I assigned that to the CC. However, my Work Related envelope seems to think I have money in it, when I don’t. What did I do wrong? I can’t post a second screenshot at the moment.
The way I do it is as follows:
- Assuming the work envelope has $0 balance
- Use personal credit card for $100 work related purchase. CC balance increases $100, work envelope balance becomes negative $100
- Deposit $100 to checking account from work reimbursement. Checking account increases $100, work envelope increases $100 making balance $0.
- Pay CC is an account transfer from checking to CC.
Hope that helps, feel free to ask questions, it not. There are different ways of doing things in GB, so maybe someone else does it differently.
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@kellishep2022 – Hope Wayne’s reply helped to clarify things! Just wanted to note if your screenshot includes any sensitive info (like account numbers), be sure to black those out for security reasons. If you want us to remove your screenshot, let us know!
Hi Wayne,
That does help but I still have a question. I have my checking account and bank account linked. In my transaction list that I need to confirm, I get the payment to the CC and the debit to the checking. But the CC balance is already adjusted with the payment. What do I do with the CC payment transaction?
I don’t have my accounts linked, so I couldn’t tell you specifically. But maybe you don’t have to do what I state in my point 4 above, if that’s what you’re referring to. It sounds like when you download your transactions from your bank it takes care of the account transfer from checking to credit card for you.
I’m sure others on this forum can straighten me out if I’m saying something incorrect here.