Map credit card statements

How the monthly credit card statement is mapped depends on whether the credit card is connected to COMMITLY.

If both the bank account and the credit card are connected to COMMITLY, the individual card transactions are mapped as usual during the billing period.

For the actual credit card statement, i.e. the debit on the bank account and the mirror-image credit on the credit card account, the category “Credit card statement (matching)” in the Cash flow from financing section is recommended.

This way the debit and the credit cancel each other out and add up to zero. The expenses themselves are already recorded in the right categories through the individual card transactions.

If the credit card is not connected, COMMITLY only has the debit on the bank account. The category “Credit card statement (matching)” does not fit in this case: the credit on the credit card account that would offset the amount is missing. The expenses would then sit in Cash flow from financing instead of in the categories they belong to.

Depending on what the card is used for, there are two ways.

If the credit card is mostly used for one type of expense, e.g. licenses or travel expenses, the entire statement is mapped to that category. The monthly amount is planned in the same category.

If different expenses are mixed, e.g. licenses and advertising, the statement is split into its individual transactions. The detail transactions then appear like regular transactions and are mapped individually. If existing rules apply to them, this happens automatically.

For the rules to apply, the statement is split in the Unmapped tab. If it has already been mapped, the detail transactions take over that category. In that case, map the statement back to “Unmapped” first.

The options for credit cards and how they affect the account balance and the date of the transactions: Basic logic of accounts and cards