Quicken is reversing credit card charges -- my bank isn't

morke
morke Member
From an earlier closed thread:

Dameron1-
Dameron1- Member ✭
December 2021 edited January 13
I am entering charges to my credit card as always and around the end of November, the charges (I have them in right column) started acting as refunds - adding the amounts back instead of charging them.
Tagged: Add/Edit Transactions

Quicken started doing this for credit card charges and some transfers. Legitimate debits show up and are later reversed as credits. My bank is not doing this -- they are "phantom" transactions. Other people have had this problem -- see above example.

Comments

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Have you reviewed your credit card account register?
    Is it properly sorted by Date and not filtered to exclude any transactions?
    Is the Search box on top of the register empty, with a magnifying glass showing in it?

    Can you please capture one or more images of the complete account register window (minus the Account Bar) showing the issue, sensitive information blacked out as necessary to protect your privacy but annotated to describe the situation, and attach the image(s) here?
    https://community.quicken.com/discussion/7867159/faq-how-do-i-post-a-screenshot-in-the-community-from-windows

    https://community.quicken.com/discussion/7663259/faq-how-do-i-post-a-screenshot-in-the-community-from-a-mac

    Please save images to files of file type PNG, JPG, or GIF only. They're easier to work with than PDF files.

  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    Your question sounds different than the earlier post you copied.  In that one the amounts were posted right but balance was going the wrong way.  You seem to be saying your transactions are getting switched to the other column like as a credit.  This is my standard answer. It is for the other post but may help explain your issue too.

    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


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