Credit Card policy

This lesson explains how to get help in the HandWallet Expense Manager app:

You are now in the details screen of a credit card account. You selected “Advanced” and then one of the credit card policies.
The default “credit card policy” is “Manually” It means that HandWallet will not try to calculate the amounts that are accumulated in the card and you will need to manually enter a transaction on the due day, to move money from another account to the credit card account. I recommend that you change the policy to “Automatic” and let HandWallet do all the work for you.
After you change the credit card to “Automatically” you need to enter a “linked account”. This is an account from which you pay your credit card bills.

You also need to select the closing day and the grace period of your card.
What are these?
The closing day of your credit card is the last day on which transactions can occur in a billing cycle. Any transaction posted after midnight on the closing day will be reflected in the next month’s billing cycle.
The grace period is the time between the closing day and the payment due date. Most credit card companies offer a grace period.

When you finish setting the payoff type, linked account, closing day and grace period press the “Confirm” button.
Remember – the changes will be saved only after you save the account. If you press “cancel” on the account declarations screen your changes will be lost.

For more information visit the HandWallet Expense Manager site:
or the HandWallet Expense Manager forum:

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