Credit Card Workflow
Credit card accounts in PennyWallet track outstanding debt, not a traditional balance. This page explains the complete credit card cycle.
How Credit Card Balances Work
| Event | Effect on Credit Card |
|---|---|
Add a credit card with initial balance 3000 | Starts with NT$3,000 outstanding debt |
| Record an Expense on the credit card | Debt increases |
| Record a Transfer (Credit Card Payment) | Debt decreases |
| Record a Transfer (Credit Card Refund) | Debt decreases (refund reversal) |
The balance shown in Finance Overview is displayed as a negative number (e.g. −4,500) because it represents money you owe, and is subtracted from your net asset.
Step-by-Step Example
Setup
You have two accounts:
HSBC Savings(Bank) — NT$50,000Visa Platinum(Credit Card) — current outstanding debt NT$2,000
In Settings, set Visa Platinum's Initial Balance to 2000.
1. Spend on the credit card
You buy groceries for NT$1,200 with the credit card.
Type: Expense Account: Visa Platinum Category: Shopping Amount: 1200
After this transaction:
- Visa Platinum outstanding debt: 3,200 (2,000 + 1,200)
- Net asset decreases by 1,200
2. More spending throughout the month
You spend NT$850 on transport and NT$3,400 dining out, both on the credit card.
After all spending:
- Visa Platinum outstanding debt: 7,450
3. Pay the credit card bill
You pay NT$7,450 from your HSBC Savings account to clear the bill.
Type: Transfer Category: Credit Card Payment From Account: HSBC Savings To Account: Visa Platinum Amount: 7450
After this transaction:
- HSBC Savings: decreases by 7,450
- Visa Platinum outstanding debt: 0
- Net asset is unchanged (money just moved from bank to debt payoff)
Partial Payments
You can pay off only part of the balance. For example, if the bill is NT$7,450 but you only pay NT$5,000:
Type: Transfer Category: Credit Card Payment From Account: HSBC Savings To Account: Visa Platinum Amount: 5000
Remaining debt on Visa Platinum: 2,450 This carries over into the next month automatically.
Key Rules
- Credit Card Payment From Account must be Cash or Bank — you cannot pay one credit card with another
- Credit Card Payment To Account must be a Credit Card
- Credit Card Refund uses the same account for both From and To — the credit card that was charged
- A credit card's balance cannot go below zero in normal usage (paying more than you owe is technically allowed but unusual)
Net Asset and Credit Cards
Net Asset = Cash + Bank accounts − Credit Card outstanding debt
If you have NT$100,000 in savings and NT$5,000 credit card debt: → Net Asset = 100,000 − 5,000 = 95,000
Archived credit card accounts can be included or excluded from net asset via the toggle in Settings.