reconcile line of credit negative balance

billyrawbillyraw Member
Using Quicken 2018 for Mac.

My HELOC is set up as a "Line of Credit" account.  It has a negative balance when you look in the register and in the account bar on the left.  When I reconcile and choose Online Balance the online balance is negative. But when I click Next, the Quicken balance is positive.  So difference should be zero but it is showing double the balance as a difference.  Reconcile won't work.  Any ideas?

Only other thing I have noticed is sometimes Quicken downloads transactions with the wrong sign - interest charge shows up positive when it should be negative.

Comments

  • UKRUKR SuperUser ✭✭✭✭
    edited September 2018

    LOC accounts are set up as credit card accounts in Quicken.

    The Reconcile window asks you to enter the balance owed as if it was an unsigned number because that's what most credit card statements always show for the amount you owe.

    So, if you currently owe $-100.00  enter 100.00 as the balance to reconcile to.
    (OTOH, if this were a credit card account and you had a Credit balance due to overpayment or refund of "$120.00CR" as shown in your card statement you'd enter -120.00 ... confusing, isn't it?)

  • smayer97smayer97 SuperUser ✭✭✭✭
    edited December 2017
    UKR said:

    LOC accounts are set up as credit card accounts in Quicken.

    The Reconcile window asks you to enter the balance owed as if it was an unsigned number because that's what most credit card statements always show for the amount you owe.

    So, if you currently owe $-100.00  enter 100.00 as the balance to reconcile to.
    (OTOH, if this were a credit card account and you had a Credit balance due to overpayment or refund of "$120.00CR" as shown in your card statement you'd enter -120.00 ... confusing, isn't it?)

    And if you still find that too confusing, you can opt to show both the separte Charge and Payment columns instead of the single entry Amount column by clicking on the Columns settings (note you have to apply this setting for each register separately).

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (STILL using QM2007, Canadian user since '92)

    Have Questions? Check out these FAQs:
  • smayer97smayer97 SuperUser ✭✭✭✭
    edited December 2017
    UKR said:

    LOC accounts are set up as credit card accounts in Quicken.

    The Reconcile window asks you to enter the balance owed as if it was an unsigned number because that's what most credit card statements always show for the amount you owe.

    So, if you currently owe $-100.00  enter 100.00 as the balance to reconcile to.
    (OTOH, if this were a credit card account and you had a Credit balance due to overpayment or refund of "$120.00CR" as shown in your card statement you'd enter -120.00 ... confusing, isn't it?)

    And if you like that idea, you may want to add your VOTE for the Ability to Set Default Columns, Sort and Sizes to Account Registers.

    First, click on the underlined link above to go there, then click VOTE at the top of THAT page, so your will vote count for THIS feature and increase its visibility to the developers by seeking to have the features you need or desire end up in the latest version.

    While you are at it, you may want to add your VOTE to related IDEAS found on the List of Requests for User Interface Options and Features. Click on the underlined link, then follow the instructions to add your vote to more related ideas. Your VOTES matter!

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (STILL using QM2007, Canadian user since '92)

    Have Questions? Check out these FAQs:
  • billyrawbillyraw Member
    edited December 2017
    UKR said:

    LOC accounts are set up as credit card accounts in Quicken.

    The Reconcile window asks you to enter the balance owed as if it was an unsigned number because that's what most credit card statements always show for the amount you owe.

    So, if you currently owe $-100.00  enter 100.00 as the balance to reconcile to.
    (OTOH, if this were a credit card account and you had a Credit balance due to overpayment or refund of "$120.00CR" as shown in your card statement you'd enter -120.00 ... confusing, isn't it?)

    I am not entering anything.  I am using the "Online Balance" option.  From your advice I have used the "Statement Balance" option and entered positive number and the reconcile completed.  I guess that is the solution until Quicken fixes the Statement Balance feature.
    
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