What do I categorize a credit card payment

ijmolder66ijmolder66 Member Posts: 1

I am importing a credit card and a checking account. My transactions page shows all of the transactions. On the transactions page I see the following:

CHASE CHECKING $471.53 Credit Card - Discover
(Black - seen as a debit from Chase Checking)

Discover CREDIT CARD $471.53 Choose a category
(Green - seen as a credit or income for Discover)

My options for the Discover Credit Card are:

Payment Received for an Invoice in Wave
Transfer from Bank, Credit Card, or Loan
Refund Received for a Bill in Wave
Refund for Expense
Sales Tax Refund From Government

Income Accounts:
Uncategorized Income

Asset Accounts:
Accounts payable

Equity Accounts:
Owner Investment / Drawings
Owner's Equity

Liability Accounts:
Accounts Payable

The INTERNET PAYMENT is not income but is a credit into the Discover Card account. What Category do I need to select (or make) so it does not double my expenses in the P/L?

Thanks in advance,


  • EhabEhab Member Posts: 1

    Hi @ijmolder66!

    Good question!

    Since this is a payment or a transfer to a credit card (or from a checking account to credit card account), you need to select this category:

    "Transfer from Bank, Credit Card, or Loan"

    After you select this, Wave will automatically show you the options to select which transaction this relates to (essentially it helps you tie to the two transactions together into a transfer).

    • Ehab
  • Gloria2828Gloria2828 Member Posts: 1

    I imported both my Checking account and Credit Card. My problem is that there are already 2 uncategorized transactions showing Payment to/from between my checking account and credit card.

    If I follow the above steps and choose "Transfer from Bank, Credit Card, or Loan", it will auto-generate an extra transaction that indicates the money is being transferred from/to, as you mentioned above.
    Ex: I clicked and re-categorized
    PAYMENT TO CREDIT CARD/ CHECKING ACCOUNT/Transferred to credit card/ -10.00
    it generates
    Created transfer/ Credit Card/ Transfer from Checking acct/ +10.00

    Now I am left with an extra transaction:
    PAYMENT THANK YOU-WEB/ Credit Card/ Uncategorized/ +10.00

    What should I do with this extra transaction that was being imported from credit card?

    Thanks for your help

  • JulianPJulianP Administrator Posts: 1,002 admin

    Hey @Gloria2828 !

    It sounds like you have an extra credit card transfer transaction (one generated automatically when selecting the transfer category, and the other imported via your bank connection). If this is the case, you can delete one of your credit card transactions or merge them together. That should do the trick. If you'd like to learn more about this workflow, click here.

    edited June 2, 2021
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