I Think I Messed Up a Category (Credit Card Payments)

StrongArmmed

I was reorganizing my categories and I thought I moved Credit Card Payment from its original parent (which I then deleted) to another subcategory (Needs). Instead,Instead, I've screwed something up. I tried to delete the category and re-add it. That hasn't worked. I can categorize spending as "Credit Card Payment" from the dropdown in the transactions list screen, but those transactions to show up in the pie chart at all. 

In searching, I found this thread: https://community.simplifimoney.com/discussion/comment/10279#Comment_10279
That seems to suggest that the Credit Card Payment category might be some sort of hidden category that maybe I've somehow corrupted?

Re-adding Credit Card Payment results in two showing up, but neither of which seem to work properly. For now, I'm going to re-categorize these expenditures as "CC Payments" and see if that helps them show in the charting and spending plans.

Can you assist?

DannyB

@StrongArmmed

First, there are two default ways to handle credit card payments in Simplifi

1. If your CC is connected to Simplifi and you are paying out of another connected account you can use the predefined category "Transfer" and then select the CC account from the list that pops up (See screenshot below)  In this case the payments will be ignored in the spending plan and reports.
2. You can use the predefined category "Credit Card Payment." I don't know where this takes you payments or how or if they will show up anywhere in Simplifi. 
3. Here is another thread you might find helpful.

Second,  See this support article for how CC payments are handled and the rationale for this.

Now a question: Did you set up a new category for Credit Card Payment like you would for let's say Utilities > Electric Company?  If so this will indeed cause problems in your account registers. 

I use the "Transfer > CC Account" option for my CC payments. Here is an example of one of my CC payments and how it is categorized. For "Category" I scroll to and select "Transfer" then look for the CC account in the list that pops up and select that account.  Transfers will ALWAYS, by default, be marked "Ignore from Reports" and "Ignore from Spending Plan."  I have these set up as recurring transactions and memorized payments so this is all done automatically for me.



Payments to CCs are ONLY transfers of money from one account to another account and are NOT actual new expenses charged against the cash account and payments to a CC are not new income, thus the Ignore instructions.  As far as Simplifi is concerned you have ALREADY spent the money charged to your CC, and it has been accounted for in your Spending Plan, and the payment is simply a transfer of money to cover those expenses after-the-fact.

Third, here is another thread about paying on a CC with a balance carried over from month-to-month incase this is something you are trying to set up.  You will find some of the same links to support articles.

I won't repeat here what I wrote there, but you may find some helpful info.

Hope this helps.

DannyB

@StrongArmmed you should be able to delete the one you created.  If you already have payments categorized to the one you created, you will be given the option to move them to the default category or let them go back to us categorized and then you can reassign them yourself.

Coach Natalie

Hello @StrongArmmed,

Thanks for reaching out to the Community!

@DannyB provided a lot of great information above, and his last comment is absolutely correct -- you'll want to delete the Category you created and then recategorize the transactions to the proper Category. 

To touch more on the hidden Categories, the default "Credit Card Payment" is a 'Transfer' Category. 'Transfer' Categories are built into Simplifi and cannot be edited or deleted, which is the reason you won't see it listed under Settings>Categories & tags. Once (if) you delete the Category you created, you should then only see one "Credit Card Payment" displayed in the Categories list for a transaction. 

To touch on 'Transfers' a bit further, there are 3 types of 'Transfers' in Simplifi (all hidden Categories): "Credit Card Payment", the Category of just "Transfer", and there are also 'Linked Transfers', which is where you would select the sending/receiving account for the Category of the transactions and it will link both sides together. A 'Linked Transfer' is what @DannyB uses. We have a Support Article available here that goes over using 'Transfers' in Simplifi. 

With all of that being said, if you'd like your credit card payments to be tracked as an expense rather than a 'Transfer', you'll want to create and utilize your own Expense Category. Since the Expense Category that you did create is listed exactly the same as the default "Credit Card Payment", I'd say that using something like "CC Payment" as you mentioned would be your best bet. That way, you can differentiate between the two when assigning it to a transaction. 

However, although I understand your vision of the Needs/Wants/Savings Categories, as @DannyB mentioned, if you're tracking all of the transactions that occur in the credit card account as expenses, you won't want to also track the payment to the card as an expense. This will ultimately cause you to double up on all of the expenses that have already been tracked as such. Although, you can also elect to ignore the credit card payment transaction(s) from your Spending Plan and Reports, so you can prevent double-counting the expenses this way as well. 

Let us know if this is helpful and what you end up deciding to do!

-Coach Natalie

StrongArmmed

Thanks for your answer @DannyB!

To your question: "Did you set up a new category for Credit Card Payment like you would for let's say Utilities > Electric Company?"

Yes, I did do that. Now I have two Credit Card Payments that show in the dropdowns but only ONE that shows in the category management screen. 

How can I get rid of mine? And restore normal function of the "built-in" Credit Card Payment category  is my question. My hope is to have only one, that hopefully can be part of my "Needs" category. Failing that, I'd like to have the default function of Credit Card Payment restored if possible. (I don't connect directly to the card issuers at this time. I'm considering that going forward, however.)