AceMoney Forums

Hey there
sorry guys not sure if my subject is quite what i am trying to explain here but ill explain now.

So currently i have been using ace money to track all my bank account transactions which are all in the one category in "Bank Account" so in there you will see everything that goes in and out, including things like loans. And I import all statement via csv and create rules automation of categories.

So only recently ive found out i could create a new account category called "Credit cards" account and keep track of it there. I setup up a credit card account to keep track of things. Most of my credit card loans have a non interest free period like 50 months no interest. I set up my crdit card account with the negative figure for example of -5000 with a 0% interest and for me my principle each month is diffrent so it cant be schedulled automatically, which leads me to my first question;

1.can you import a csv the same way you import a csv for bank account statements in ace money and how is this done? is the template structure of CSV the same as you would create for normal importing statement with CSV.

2. How can i make my "credit card" account more efficient so that when i import my transaction statements in my "bank account" that it would pick up the credit card transactions (which have a distinct description in the bank statement for eg. HSBC 22332") and make it transfer that transaction to the credit card account.?

Sorry if i have confused the hell out of anyone hopefully someone may know what im talking about.

Kind regards

CSV is not the best choice, OFX or QIF would be better as they are specifically designed for financial data. But yes, in general you can import a CSV into any type of account.

Importing/downloading transactions does not currently support transfers between accounts. Credit card purchases will simply show up as withdrawls, and payments as deposits. You will have to edit those transactions by hand after they have been imported to make them into transfers between a bank account and a credit card account as needed.

Thanks i entered them as transfers and was able to balance credit card. How ever since its being recorded as a "Transfer" it does not show up as a payment in my monthly category reports. It does not show the transfer of the credit card purchase. So im not able to efficiently budget properly since there will be missing data in this section.

What can i do?

I have found it easier to treat my credit cards as just another bank account. Not being an accountant this fits in with my mental picture of what is happening, ie I am taking money out of the credit card account when I buy something, and then when I pay off the balance at the end of the month it is a simple transfer on AM.

This means that when I buy something I can record the relevant category against that transaction. These categories can then be used in any budgeting actions. I tend to update my transactions manually every day or two, so it doesn't take long to update them.

The transfer from savings account to credit card account needs no category (I don't even think that AM allows categories for transfers), as if you did have a category you would be counting this twice in your budget, once when you record the purchase and again when transfer the funds.

Agreed. A credit card should be handled as a separate account. Purchases are recorded as a withdrawl from that account. Payments are recorded as a transfer from the appropriate source account (bank, cash, etc).

A transaction that is marked as a Transfer can have a category assigned, though one side would cancel out the other in reports and budgets. A transfer performed in the Splits list of a Deposit/Withdrawl transaction cannot have a category assigned, though (although the MMW/AMJ file format supports it, but the UI does not allow it yet).