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How to enter a credit (refund) transaction for a Credit Card

Asked by Ken

Hello, I am a new user and have just stared adding transactions for my credit card. I've learned that normal transactions have to be entered as a negative number against a particular category. However, I am now trying to enter a refund a vendor issued against my card for products I returned to the store (in this case an automotive repair part).

At this point I follow the exact same procedure for a standard credit card transaction but instead of a negative number I input a positive number for the credit amount and select the appropriate category.

However, doing the above prompts a warning message that reads as follows:

        "Warning: amount and category sign don't match"

This message leads me to believe I am not following the correct procedure for recording the credit transaction to the account.

If I continue and ignore the message the transaction seems to be recorded correctly and the category total is updated.

Can you please clarify the Warning message and whether or not I am recording the transaction correctly?

Thank you in advance for your help!

KEN

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Launchpad Janitor (janitor) said : 		#1

This question was expired because it remained in the 'Open' state without activity for the last 15 days.

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Andrew (chiefajg) said : 		#2

KEN -

I just ran into this issue and think I have found the solution.

Explanation:

This message indicates that the amount you are entering ( - or + ) does not match with the Category sign ( - / + ). In your case, a refund should be a positive amount (debit) to your account but the Category must be defined as an Expense (negative sign).

To Resolve:

Depending on your case, either change the Amount Value ( + or - ) to match the category or vice versa)

Additional Notes:

To change a Category from expense ( - ) to income ( - ), just double click on the category / or click the edit button and then choose income checkbox)

1. Go to Manage > Categories
2. Review the "Expense" and "Income" categories
3. Notice, each "Expense" Category is suffixed with [-] (i.e. Credit Card Payment [ - ]