how to handle a Credit Card in Quicken

Monie66

Why does Quicken treat my credit card account like a bank account? I downloaded the online account to Quicken and it shows the balance amount getting higher as the payment amounts are posted.

Sherlock

If you haven’t already, you may want to verify the register is sorted appropriately and there aren’t any unexpected filters being applied:  open the register, select the Date column header (you want the small triangle to right of Date to point up) and Reset.

Charges should always subtract from the running balance.  
Payments should always add to the running balance.

When the running balance is in the black (positive), charges will appear to reduce the balance and payments will appear to increase the balance.

When the running balance is in the red (negative), charges will appear to increase the balance and payments appear to reduce the balance.

NotACPA

You might also need to double-check your "Opening Balance", in particular that it's in the proper column, and that the account is properly set up in Q as a credit card.

Monie66

"Sherlock" you pretty much explained what I am seeing. My problem is how do I correct it? My charges are not red. My beginning balance is the credit card limit. So that may be incorrect.
"Not ACPA" how do I correct the opening balance and what is the point of reference? Thank you both for answering.

Sherlock

Monie66 said:

"Sherlock" you pretty much explained what I am seeing. My problem is how do I correct it? My charges are not red. My beginning balance is the credit card limit. So that may be incorrect.
"Not ACPA" how do I correct the opening balance and what is the point of reference? Thank you both for answering.

If the opening balance is not the balance of the account prior to the first transaction you've entered in the register, I suggest you correct the transaction.  To correct the opening balance transaction, open the register, left-click on the amount, enter the correct opening balance of the account on that date, and select Save.

volvogirl

First make sure you are sorted in Date order with the newest date at the bottom. If you are not then click the DATE Column heading to sort.
 
Sounds like you're running a credit balance. Is the balance in red or black? Look back through your transactions and maybe you'll spot one that was entered backward. Or a payment in the charge column or a charge in the payment column. Look around back where this first started happening.  Or maybe you are missing some charges? 

If the balance is in Black, it means you have a credit on the card.  Like if you overpaid the bill or got a refund for something you returned.   When you enter a charge it will reduce (decrease) the credit you have available on it.   And a payment will increase the balance.

Also make sure you have the right starting balance.  If it's zero you might need to add a beginning balance for when you started the account in Quicken.

 The credit card balance you OWE should be in RED. If the balance is Black then it's showing the credit card company owes you and you have a credit balance. And then when you make a payment it's like the cc owes you more. So you need to go back though your entries and find where the balance switched to black to being in your favor.

See this for more info.....

https://www.quicken.com/support/positive-black-balance-credit-card-account