Need some help with a QFX file/upload issue

Question

I have created a Quicken credit card account for a PC Financial credit card. There is no automated update option in Quicken for this financial institution.

When I upload the QFX file, the charges/debits deduct from the balance and payments/credits add to the balance. It is the opposite of any other credit card accounts automatically updated from CIBC.

I've attached some snippets from the QFX file.

Any help would be appreciated.

QFX File Comparison.pdf

volvogirl · Accepted Answer

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. I've been reading the opening balance might have got changed during an update or when syncing.

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