My savings account is posting as a credit account

cluksha

I have a savings account registered in Quicken home and business (2020 r31.6 27.1.31.6) that is registering entries as a credit account.

If you look at the attached image, every deposit of $50 is dropping my account balance by $50.

Any Ideas?

Thanks,
Chris

Frankx

Hi @cluksha,

I see what you are referring to but the problem is not with the $50. deposits - the problem is with your opening entry.  It is a negative number - which appears with a minus sign ( - ) in front of it and in red font.  The balance in a bank account should not be a negative number, so you need to fix that "opening balance" transaction so that it is in the deposit field.

When you fix that, the additional deposits will correctly increase the balance.

Let me know if you have any followups.

Frankx

Frankx

Hi @cluksha,

I see what you are referring to but the problem is not with the $50. deposits - the problem is with your opening entry.  It is a negative number - which appears with a minus sign ( - ) in front of it and in red font.  The balance in a bank account should not be a negative number, so you need to fix that "opening balance" transaction so that it is in the deposit field.

When you fix that, the additional deposits will correctly increase the balance.

Let me know if you have any followups.

Frankx

cluksha

Thank you Frank! it's amazing what happens if you get someone else's eyes on something that you've been looking at over and over again. It's kind of like telling someone to check to see that their computer is plugged in before wondering why it doesn't turn on.

Thanks again, Chris

Frankx

Hi again @cluksha,

Been there - Done that!!!

Take care & stay safe.

Frankx