Quicken swapped all transaction calculations on all Credit Cards

jcabotl

This is a new one for me, but with the latest update, Quicken appears to have reversed all transactions for all of my Credit Cards ... for ALL time. Charges are now deducted from the balance and Payments are now added to the balance. All charges are listed in black type as are all payments

What happened here?

Quicken Jared

jcabotl said:

This is a new one for me, but with the latest update, Quicken appears to have reversed all transactions for all of my Credit Cards ... for ALL time. Charges are now deducted from the balance and Payments are now added to the balance. All charges are listed in black type as are all payments

What happened here?

Hello @jcabotl,    

We are sorry about this problem with charges and payment amounts seemingly being reversed. Thank you for letting us know about this here on the Quicken Community.

First, where is your current active data file located? You can check this anytime by navigating to File > Show this file on my computer... in the upper menu at the top of the screen. Make sure that your current active data file is located on your computer and not on an external drive or cloud-based storage service, as these locations can cause erratic behavior and even data damage.

Have you tried restoring from a recent backup? We recommend saving backups frequently by navigating to File > Copy or Backup File... in the upper menu at the top of the screen. Provided that this has been done often, you should be able to restore from a backup that was saved just prior to when this issue emerged by navigating to File > Restore from backup... in the same menu. I am curious about whether or not this problem continues in the restored file. 

I look forward to hearing back from you about this, if you get the chance to check back in with us about this. 

Thank you,

Quicken Jared 

NotACPA

@jcabotl When you say "All charges are listed in black type as are all payments ", do you mean in the CHARGE and PAYMENT columns, where they're supposed to be black ... or is the corresponding amount in the BALANCE column always black?

In a Credit card account, the Balance column is usually in RED ... indicating that you owe money.  If the figure in the Balance column is black, you've overpaid.

Also possibly confounding the situation is that transactions in the account MIGHT be duplicate or missing.  So, when was the last time that you reconciled this account?

volvogirl

Is it actually downloading with the wrong sign or in the wrong column?   Or is the balance just going the wrong way?  Make sure you are showing both the Charges and Payments columns and not the single amount column.  
 
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.....

A Positive (Black) Balance in a Credit Card Account 

Frankx

Hi @jcabotl,

Have you taken a look at the Opening balance of the account?  From what you've said above, it is possible that Quicken changed the opening balance of the account, which would cause the rest of the transactions, and all other balances to be incorrect.  This is not an infrequent situation - so double check that the opening balance hasn't been changed.

Frankx

jcabotl

@Quicken Jared, the file is on my local drive (C:\Users\<my machine>\Documents\Quicken) and is 83MB. My last backup is from 1/3/2023. Restoring a backup seems to have the same affect. Looks correct, then quickly does this recalc and goes to the improper balances.

@NotACPA, yes, the Charge appears in black (and is the correct amount), the payment appears in black (and is the correct amount). What changed is the balance. The balance (always in Black now) INCREASES with each payment and DECREASES with each charge. This only happened after last update (R45.21 Build 27.1.45.21) and affects all of my credit cards and all of their transactions for decades.

@volvogirl , it is doing all of the calculations for the balance incorrectly. The entries are all in the proper columns.

For now, I have reconciled with my credit cards as their shown online balances were correct.

NotACPA

@jcabotl

That the balance column is black, indicating a CREDIT BALANCE,  indicates a couple of possible things:

1. The Opening Balance in the account is wrong, or was changed, OR
2. You've got duplicate PAYMENT transactions payments into the account, OR
3. The payment transactions into the account were more than necessary, OR
4. Charge transactions are missing.

SO, when was the last time that you reconciled the accounts?

And, there are multiple problems with the entire R45 release.  Take advantage of the just offered update to R46 and please report back how that impacted your accounts.