Reconciling Credit Cards (matching transactions with payments)

creditcard

#1

I’m looking for a way to match payments I make into my credit card account with the spending transactions on it.
For example my monthly electricity bills come off the credit card, and so do my random shopping sprees and holidays. Every month I pay for the bills, but I might not be able to pay for personal spending immediately, so I want the app to show me which transactions are ‘paid’ and which are ‘unpaid’ on my credit card.
Would love to hear ideas on doing this either using BNZ software or others?


#2

Hi Sara, I’m afraid that payments to credit cards are not transaction specific. For example, if you pay a power bill at $200 and have other spending, then pay $200, it won’t necessarily credit the $200 power bill. Regardless, I’ve passed your feedback onto the team for reference :slight_smile: Any other questions let me know. And Happy New Year!


#3

Thanks Lawrence
I understand these are not separate from the banks perspective, but as an end user it would make managing expenses easier.
I think the ideal system would be to have optional linking between payments into and charges out if the credit card account. Not everyone will work in the same way but this would cover both options.
Cheers


#4

Hi Sara,
a) If you have not already done so you should register for an online Credit Card statement rather than via paper and NZ Post .
Then I would go into Internet banking and click on the Credit card and select a Date range to match the statement and export it to a csv file.
You can save it to Excel and separate it into Personal and other groupings and allocate each payment against the specific items you selected to pay.
Neil


#5

Hi Neil
Yes, that’s the current process - manual and time consuming!
Cheers