Moza calculates your Net Worth by taking your total assets and subtracting your liabilities. Credit cards, loans, and mortgages are liabilities, meaning their balances reduce your net worth. To keep your cash flow clear, payments to credit cards are logged as transfers rather than expenses.
How it works
- Add credit accounts. Create a liability account for each credit card or loan you want to track.
- Card payments are transfers. When paying your credit card bill from checking, log the transaction as a transfer from Checking to the Credit Card. This avoids double-counting the expense.
- Record individual transactions. Record actual purchases (e.g. dining, groceries) on the credit card account. This ensures they are budgeted and categorized correctly.
- Positive and negative balances. A credit card balance shows as negative (representing debt). Checking and savings show as positive.
Limitations
- Moza does not sync directly with bank APIs; you record card transactions manually, import statement files, or upload receipts.
- Debt interest must be added as a separate expense transaction on the liability account.
Common Questions
Why is my net worth decreasing when I use my credit card?
Because a credit card purchase increases your liabilities (what you owe), which reduces your net worth.
How do I log a credit card payment?
Create a transfer transaction with the checking account as source and the credit card as destination. This changes the balances of both accounts without creating an expense.