tag:infinitekind.tenderapp.com,2009-01-14:/discussions/general-questions/123419-changing-bank-account-to-catagoryInfinite Kind: Discussion 2022-09-19T22:10:17Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/547193722022-06-19T14:37:02Z2022-06-20T12:00:26ZCHANGING BANK ACCOUNT TO CATAGORY<div><p>If you are really sure you want to do this, then:</p>
<p>Toolbox. Force change account type to category. But a category cannot sit under a bank account.<br>
Or create a new category. Then find and replace extension to move the txns.</p>
<p>Always BACKUP FIRST.</p>
<p>However, I do NOT think you really want / need to do this... Please read up on how to set up Credit card accounts and how to pay them off from the bank account.</p></div>Stuart Beesley (Mr Toolbox)tag:infinitekind.tenderapp.com,2009-01-14:Comment/547193722022-06-20T00:06:27Z2022-06-20T00:06:27ZCHANGING BANK ACCOUNT TO CATAGORY<div><p>Hello,</p>
<p>Let's first be extremely clear on what you want to do before moving anything. It sort of sounds like you may want to move an existing account to be a sub-account of another account. Moving an existing account to a "category" may be necessary in some cases, but these are fairly rare, usually errors in importing from another program. If you could explain your situation in a bit more detail, we may be able to offer other suggestions.</p>
<p>If you are going to attempt changing an account to a category as the above post outlines, I <em>strongly</em> suggest making a backup of your data file first, as there's no easy way to undo that change if you make an error.</p>
<p>Ethan<br>
Infinite Kind Support</p></div>Ethantag:infinitekind.tenderapp.com,2009-01-14:Comment/547193722022-06-20T00:37:46Z2022-06-20T00:37:47ZCHANGING BANK ACCOUNT TO CATAGORY<div><p>I have a credit card that I have set up as an account, and when I make a<br>
payment to that credit card I have been using the name of the credit<br>
card account in the category field in the bank account.</p>
<p>I want to set up, and move, that information in that credit card account<br>
to my bank account and have it set up as a category in my bank account.<br>
The payments to the credit card account come from my bank account, but<br>
they do not show up unless I link the accounts. I would like not to do<br>
that and have the credit card payments fall into a category like my<br>
other bills; utility, car, fuel.</p></div>CWCSOLUTIONStag:infinitekind.tenderapp.com,2009-01-14:Comment/547193722022-06-20T01:13:40Z2022-06-20T01:13:40ZCHANGING BANK ACCOUNT TO CATAGORY<div><p>just a user - I'm not sure you want to do this, based on what I'm reading.</p>
<p>I assume that when you purchase an item, you create a transaction - and let's say you bought a grocery item. I'd assume you put in the category for that transaction as something like "Grocery". Thus, you have already placed the value into a category.</p>
<p>And you do this for an entire month.</p>
<p>When the bill is to be paid, there is nothing else to put into a category - it's all been done already. You then simply move money between two accounts. (credit card gets money from bank)</p>
<hr>
<p>Now, that said, maybe you only put in one entry per month into your credit card, when the bill comes in. (i.e. you don't record each purchase, as above). So, the bill comes in, the amount is $420, and you want to have a category to place that amount into (call it credit card payment (no detail))</p>
<p>Then, you'd have the bank account, the credit card account, and a Credit Card Payment category. In this case, you'd create a transaction, say "Credit card bill June 2022", amount $420, category "Credit card payment".</p>
<p>At that point your credit card has a $420 balance, and then you pay that balance by creating an account to account transaction of $420, just as you would have above with multiple transactions.</p>
<hr>
<p>Looking at what you describe - how do pay a bill out of a category? Do you have a value associated with that category and then increase/decrease it from the bank account? I'd suggest that isn't what categories are for, and I won't go further with analysis.</p>
<p>Just some thoughts on what you want to do.</p></div>dtdtag:infinitekind.tenderapp.com,2009-01-14:Comment/547193722022-06-20T03:06:35Z2022-06-20T03:06:35ZCHANGING BANK ACCOUNT TO CATAGORY<div><p>Part of the confusion here may hinge on this sentence:</p>
<p>"The payments to the credit card account come from my bank account, but they do not show up unless I link the accounts."</p>
<p>Where exactly are they not showing up where you would expect them to?</p>
<p>I'm inclined to agree with the first part of the previous comment. If you were to turn your credit card account into a category somehow, you'd essentially be double paying all of the expenses from that account with the way Moneydance tracks expenses. If in the past month in your credit card account you had a $100 transaction for Groceries and $100 for Fuel, those have already been accounted for by assigning those categories to those transactions in your credit card account. It sounds like you're trying to then add an additional $200 transaction in your bank account in a new expense category for the credit card, instead of entering in a $200 transfer transaction from the bank to the credit card for the bill. Adding in an extra $200 like it sounds like you're trying to do would bring your overall expenses to $400, leading to incorrect amounts in reports, budgets, etc.</p>
<p>Ethan<br>
Infinite Kind Support</p></div>Ethantag:infinitekind.tenderapp.com,2009-01-14:Comment/547193722022-06-20T11:53:44Z2022-06-20T11:53:45ZCHANGING BANK ACCOUNT TO CATAGORY<div><p>Your $420 example is close, I think. At first I created an account<br>
called CREDIT CARD. When I pay my credit card each month I put in the<br>
category field for that transaction the name of the CREDIT CARD account.<br>
Which I think was wrong.</p>
<p>So, when I run an Income and Expense report, unless I link the CREDIT<br>
CARD account to my BANK account, it does not show up. However, when I do<br>
link them, the transaction with the CREDIT CARD category show up, but<br>
they show up as a credit instead of a debit. Therefore my expense total<br>
is minus the CREDIT CARD category. Which is what I am trying to fix.</p>
<p>I batch changed the category field in the CREDIT CARD account to another<br>
category "Credit card Payment" that is just a category and it adds the<br>
total number of transactions, each month, to the register, which is a<br>
complete mess. So I had back that out.</p></div>CWCSOLUTIONStag:infinitekind.tenderapp.com,2009-01-14:Comment/547193722022-06-20T11:59:14Z2022-06-20T11:59:14ZCHANGING BANK ACCOUNT TO CATAGORY<div><p>In simple terms you should have<br>
BANK account<br>
CREDIT CARD account</p>
<p>You enter txns in the CC account.. e.g. Buy Food, Category: Food -100 etc</p>
<p>To pay off the CC debt from the Bank account you create a new txn in the BANK account with the CATEGORY field set to the CREDITCARD account.... This will transfer the amount from the BANK and pay off the CREDITCARD account...</p>
<p>NOTE: In Moneydance, Categories are really just a special type of account. In the Category field, you can enter an ACCOUNT or a Category.</p></div>Stuart Beesley (Mr Toolbox)tag:infinitekind.tenderapp.com,2009-01-14:Comment/547193722022-06-20T22:00:16Z2022-06-20T22:00:16ZCHANGING BANK ACCOUNT TO CATAGORY<div><p>I solved my problem. Not sure how, but I have come to a work around that<br>
works.</p></div>CWCSOLUTIONS