Howver, I think you classify the transfer from your checking account as a credit card expense

I still seem to be confused on this topic. When I get charges on my credit card, I categorized each expense as gas, groceries etc. When I pay my credit card with from my checking account I cagegorize this expense as a transfer out from checking. When my credit card account recieves the payment, I categorize it as a transfer in to my credit card.

When I look at the trends, I see the category transfer out.It appears to me that it is being counted as an expense. Also on my home page, it is saying that I spent more than I should have. It is factoring in all the tranfer out as an expense. Does anyone have the same confusion with this?

Replies to this message

rdcouture (Nov 5, 2009 10:08 pm)

had a mess with this too until i figured it out. my mastercard and bank acct are both registered in quicken. I now tag all mastercard payments as "transfer in" or "transfer out", this way they are not double counted.

Think of it this way, you cannot classify a credit card payment as an expense, when all the expenses you paid by credit card are already counted in quicken. Treat your credit card just like another bank account, and tag payments to it as "transfer out" of your bank account, and "transfer in" on the credit card account. Now your charts and data will be correctly reflected in the trends area.