How to record an installment purchase on a credit card in Finplan?

Bought something on the card in several installments? In Finplan, you record the purchase once and it is split into installments automatically.

In this article, we will explain how to record an installment purchase on a credit card, how to edit it and how to delete it.

How to record an installment purchase on a credit card?

When you record an expense on the card, fill in the fields as usual: card, date, amount, description and category. Then set the bill and the entry type.

1. In the Entry type section, choose Installments
2. In Installments, enter the quantity, from 2 to 360
3. In Installment type, choose the interval between installments: Weekly, Monthly or Yearly
4. Click Add expense

The default installment type is Monthly, which is the most common for card purchases.

The bill for each installment depends on the card closing day, and you can adjust that choice in the entry.

How to edit an installment purchase?

Once created, the entry type and the number of installments can no longer be changed. Finplan warns: "Entry type, installments and recurrence cannot be changed after creation."

You can still edit the other details, such as amount, description and category. When you save, Finplan asks for the scope of the change: Only this one or This and the next ones.

How to delete an installment purchase?

In the card statement, open the purchase menu and choose Delete. Since the expense is part of an installment plan, Finplan asks for the scope of the deletion: Only this one or This and the next ones.

Entries from bills that have already been paid cannot be edited or deleted.

For purchases that repeat every month with no end date, see how to mark a purchase as recurring on the card.

If you still have any questions, just reach out to us through Finplan support, by email or on WhatsApp.