How to track credit cards

Credit cards are tracked as bank accounts in MoneyMinder. Let’s walk through how to set this up.

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Click Banking in the sidebar.

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Click Add Account and choose Bank Register (Manual Entry) from the dropdown.

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Enter the credit card name and statement balance at the beginning of the financial year. This should be taken directly from the credit card statement and entered as a negative number in MoneyMinder.

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To record charges on the credit card, click Actions to the right of the credit card account.

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Choose New Withdrawal from the dropdown.

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Enter the transaction information then click Save & Close.

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Payments to credit cards are recorded as Transfers. Click Actions to the right of the credit card account and choose New Transfer from the dropdown.

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The From bank account will be the Checking account and the To bank account will be the Credit Card.

Fill in the rest of the information and click Save.

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When reconciling the credit card account, the bank statement ending balance will be entered as a negative number.