To start I made an account for credit card under liabilities and put all credit card transaction to that now I would like to transfer it over to credit card under the bank account tabs.
is this possible
Yes and no.
Yes, you can do it. Create the account. As you use it, remember it will be a contra account. That is, any balance will normally be negative. When you purchase something with a card, use the Spend Money function and enter the amount. Manager will drive the balance further into negative territory. The handy thing about having the credit card in the Bank Accounts tab is that the total of that tab helps you know whether you’ll be able to cover the bill when it comes.
But no, there isn’t a magic bulk conversion button to click to accomplish what you want. You will have to go back and change the account on every credit card transaction you entered. Likewise, you will have to change the account on every transaction where you paid a credit card statement. (There will be fewer of those, probably.)
To simplify the process, I would export the listing of you credit card liability account and use that as a guide to make sure you don’t miss any transaction. When you are done, that liability account should be empty and there should be nothing in Suspense.
If you were working within an account category, you could just rename the account. But you were previously using a liability account and now you’ll be using an asset account: opposite sides of the accounting equation. Plus, the bank accounts have many more useful features.
Good luck.
The good thing changeing it to bank account is I can import the c/c statment
I had not thought about that. But I always enter my transactions as they occur, showing them as uncleared until the statement arrives. The way I do it, I can better manage my cash flow because I know what the bill will be.
Also, many of my transactions are for billable expenses. My goal is to issue invoices for them before I get the statement. When I’m lucky, I actually get paid before the statement comes. If I wait to import the statement, obviously I would miss that opportunity.
now I have really stuffed it I dont know what I have done but I have things in wrong places and reconciled entries and deleted entry’s me thinks it is going to be a long night sorting out what I have done. sure wish there was a bulk delete as I would delete everything from april the 1st to now and start again.I have 2 years worth of data in there so dont want to start completely again just from todays stuff ups
Can I delete all the payments to the credit card from the bank account (12 in total) and reimport them and then do a transfer money from Bank account to credit card account
I’m not sure I understand exactly what you’re asking, but I think it will lead to trouble. If you import all the payments to the credit card account, then transfer money to it, you’ll end up with twice the amount going into the credit card account.
Since you only have 12 payments, I would just enter the first one, then clone it. As you clone, adjust the amounts and dates. It will only take a couple minutes.