CITIBANK CC account crediting charge, debiting payments (transactions reversed sign)

Charge (black) shows Amount (red, negative): decreases balance.
Payment (black) shows Amount (black. positive): increases balance.
Acts as if internally Quicken has reversed sign of all transactions.
Other account (non credit cards) acting normally.

Comments

  • g0
    g0 Member ✭✭
    Incorrect on my observations, sign of transactions OK. Bad data file shows huge erroneous positive (black) balance; transactions credit and debit correctly. Reverted to prior good version of data file. Suspect data file corrupted by download from CITI.
  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
    So are you ok now?  Here's my standard post......

    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?  Or entered a payment twice?


    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-

  • g0
    g0 Member ✭✭
    Agreed, I understand your post and concur. I was mentally upside down due to the wild quicken download errors. Thank you.

    I was able to do direct transaction downloads from the bank, avoiding quicken's download process entirely and I have balanced accounts now. Frustrating that Quicken update "improvements" constantly invalidate the bookkeeping process introducing errors.