Dealing with payments in and out of a card account

What is the best way to deal with card payments that get eaten into during the month?

For example, say i transfer R3000 into my Card throughout the month as the true "payment". An unexpected bill comes due and I transfer R1000 from my card back to my cheque account. I would want this to reduce from my actual card payment (so it would show as R2000 card payment for this month) but I can only categorise it as income.

Is there an easy way to deal with this? Transfer seem to remove them completely (i.e. showing 0 payment into my card)

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  • Hi Graeme,

    Thanks so much for getting in touch. Transferring money between accounts is similar taking money out of one pocket and putting it in another. With this is mind, any transfers between your linked accounts, like a transfer from your cheque account to your credit card, should be marked as a Transfer.

    This will remove them from your Budget and Nudge cards as they are not an expense, nor an income, but instead an inter-account transfer.

    However, there is no right or wrong way to use 22seven, and lots of different people use it in lot's of different ways :)

    Some people like to track exactly how much they are repaying on their credit card. In this case, you would put the outgoing payment transaction from the cheque account in the 'Card Payments' category in the 'Invest-save-repay' Spending Group, and then mark the incoming payment transaction on their credit card as a Transfer.

    I hope that helps. If you have any further questions at all please don't hesitate in contacting us.

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