Main > Help [Linking of Bills-Accounts and Budget]
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Siri
User
Re:Linking of Bills-Accounts and Budget
Awesome!! Got it now- thanks very much!
03/10/2009 10:36:55
support
Administrator
Re:Linking of Bills-Accounts and Budget
If you update your bill, you can set it up to be recorded as a transfer from your Checking account to your Credit Card Account. This will then record the withdrawal from your checking and apply that amount towards your budget, then create a deposit into your Credit Card account to lower the balance. If you have any existing Bills already marked as paid, then update the transaction that was created and change the Withdrawal type to a Transfer and select your Credit Card as the "To Account".
03/09/2009 21:03:40
Siri
User
Re:Linking of Bills-Accounts and Budget
Okay- thanks for the reply, so if I pay a bill, which happens to be a credit card(under My Account), and the money is deducted from my checking account, the bill shows paid and my budget is updated, do I have to do a separate transaction to show the money being applied to the credit card account. For example, I have a jcrew card, which is set up under My Accounts with a $48 balance. It is set up as a bill and also under categories, "store credit cards" in my budget. When I "record" the bill for $48, it debits the money from my checking acct, shows paid, and my budget is updated to reflect that I paid the amount. How do I then show my Jcrew credit card as a $0 balance under the My Account module? Do I have to do another transaction? Thanks for your help.
03/09/2009 20:05:15
support
Administrator
Re:Linking of Bills-Accounts and Budget
If it shows correctly in your Budget but not in your BIlls when you enter a new transaction, you'll first need to go to the My Bills page and click the record bill. From there you can select "existing transaction" to tie it to the transaction you created. As far as creating a tie with your budget, the category you select when creating a new transaction is directly tied to your budget categories which is why they always match. So basically the category is what ties the budget and your transactions together and the bills have a direct tie to individual transactions to mark them as paid. Hope this makes more sense and let us know if something is still unclear.
03/09/2009 16:32:02
Siri
User
Re:Linking of Bills-Accounts and Budget
Thanks for the reply. I don't think I asked my question correctly. When I pay my bill under the bills module, they show appropriately in the budget, but when I go to create a transaction to show that my checking account paid the bill, the budget changes and DOES NOT reflect the fact that I paid the bill- Im doing something wrong with my linking. can you explain the process I should go through to:
pay a bill that is linked to a category(with other bills) to the budget with both the bill (a credit card) and the account that is paying for the bill, being an "account?" I hope I framed this correctly, please let me know. I love using this site, Im just trying to work out these little tweaks. Thank you!
03/09/2009 12:31:34
support
Administrator
Re:Linking of Bills-Accounts and Budget
Thats correct. The budget category should be linked to your From Account (Checking) and the To Account should be empty otherwise the two categories would cancel each other out.
03/08/2009 21:47:25
Siri
User
Linking of Bills-Accounts and Budget
I currently have my bills set up and tied to my budget. I have several bills(small credit cards) that are tied to a budget name of "store credit cards," so four bills under one budget category. When I go to bills to mark those small credit cards as paid, in my budget they show up as I would expect. However, when I go to my transacctions to show my checking account(one account) got debited the amount that I paid to the store credit cards(also accounts), they come out of the budget. Does this make sense, I hope I explained it well enough. I am just not sure if I have these modules linked properly. Can you help?
