Liability Account Showing Negative (Instead of Positive) Balance

Ryan Hofrichter

I've set up a new account in Quicken representing an escrow account for a new property. I've used the settlement statement from closing to add all debits and credits to a split transaction, including escrow charges. However, this creates a negative balance in the new account representing the escrow, whereas it should be positive. I can't figure out why and what to do about it?

[Deleted User]

I think the escrow account should be set up as an asset, since it's money you have set aside?

Ryan Hofrichter

Hi @Damian - yes, the account is set up as an asset.

[Deleted User]

You have "Liability Account" in your post title.  To clarify, what is the account type of the account you set up?

Ryan Hofrichter

Hi @Damian - I've fixed the issue. Thanks!