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1. 

   Michael
   Member

   Hi Guys,
   I know that this question has been asked frequently, but I'll appreciate for additional explanation.
   I have one Credit card and ones a month (after month on purchases) I transfer money in order close my credit debt for that month.
   How do i do that with iBear????
   Because right now instead is balancing my Credit card account to zero and starting a new one for new purchases in a new month, i still user my previous Credit balance with all the liabilities and right now its over the limit due to lack of balancing option.
   Please help me.
   Michael

   Posted 2 years ago #
2. 

   Akhat
   

   Replying to @Michael's post:

   Hello Michael, the way that you are doing it (money transfer to the accout to discharge your debt) is the best way to do it at the moment.

   Posted 2 years ago #
3. 

   jaisonn
   Member

   Hello, I am doing credit cards payments since I bought iBearMoney, I do like this:

   I have my Visa credit card in the "Credit Cards" section.
   When I buy a bottle of water (US$ 2,00) using my credit card, I go to transactions, expenses and add this item to my Credit card account.

   Inside this credit card (edit), there is a link called "Connections", I think (my iBearMoney is in Portuguese - I live in Brazil).

   So, with this link Connections, I can connect this credit card with an expense category. So I connect this Visa credit card with the expense category: Bills > credits cards.

   To pay the credit card debt (once a month), I go to the Transactions screen.
   Category: Bills > Credit Card.
   Ammount: My total debt on the current month.

   So, this action balances my credit card debt correctly. It works like a charm.

   But there is one problem. In the monthly expenses reports, the bottle of water apears (US$2,00) and the credit card payment appears (US$2,00) as well. So, I spent US$2,00 and, on the report says I spent US$4,00.

   I think the reports can not include any category with a credit card linked, because we pay it in a very diferent way than a regular item.

   What do you guys think? Is this a correct action on the app?

   Posted 2 years ago #
4. 

   trevort
   Member

   Hey there, Try doing a money transfer to pay off your credit card.

   For example, you buy the bottle of water on the credit card, then later transfer money from your chequing to your credit card to balance your accounts when you pay your credit card bill.

   You only actually made one expense transaction, which was the original purchase, by doing another expense to your credit card to balance your paying twice.

   Does that make sence? It works very well for me.

   Posted 2 years ago #

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