Is this the correct format for credit card accounts?

Eric Johnson

I'm trying to set-up a cleaned up account for a credit card. When I started to add the account, the screen template popped up a form I've not used before. When I entered some transactions, the math was backwards as it showed charges subtracting form the balance due and payments were adding to the balance.

The Register Exp 1 is the register I am now seeing.

While Register Exp2 is what I am used to seeing. Note that 2 is more in the form of my regular checkbook account.

I've thought that the different may simply be a format but I can't see where the choice should be made.

Aside from the format of the page, what is causing the reversal in the posting so that "Charges" reduce the balance while "Payments" add to it?

Thanks for whatever help you can offer. I know it is probably a simple answer but it eludes me.

Eric Johnson

Tom Young

The formatting is established by clicking the gearwheel in the Account and selecting the number of lines for heading to use:

Are these manual entries or downloaded entries that seem to be "backwards?" Any chance that when you established the new Account you used the wrong sign for the Opening Balance? In that case "charges" reduce the balance in the Account and "payments" increase the balance in the Account.

UKR

New account registers typically are created using the "1-line-per-transaction" format.
Your example 2 shows the "2-lines-per-transaction" format.
You can switch between 1-line and 2-line formats by using CTRL-2 as a toggle at any time. There also is a 1-line or 2-line selection available when you select the Actions gear icon in the register.

To add or remove columns from an account register click the Register columns icon located next to the Balance column header.
For example, you can remove the Amount column if you prefer using Charge and Payment columns.
If you never use Tags for any of your transactions you can remove the Tag column from the registers.

Credit card account registers have a negative balance (shown in red) when you owe money to the credit card company. So, if you owe money, the transaction in your example image 1 is correct.
As a result, recording a credit card charge using an unsigned amount in the Charge column (or a negative amount in the Amount column) makes the red balance larger. You're "going deeper into the red".
I know, on a bank's credit card statement they show the exact opposite: a charge increases the black balance. But for record keeping in Quicken to work properly, the amount you owe is shown as a negative number in red, as opposed to the money you have in a Checking or Savings account which is shown as a black, positive balance.

Eric Johnson

Found the 1 line vs 2 line command. I thought it would be in preferences.

Now it seems to be working correctly. I initiated the account with a "Charge" and this then showed as a negative balance as it should. When I entered a charge of "$1.00" this showed in the Charge column and then as a "$-1.00" in red in the "Amount" column and increased the balance by $1.00.

I guess my confusion is that in this account there are columns for "Charge", "Payment", "Amount", and "Balance" whereas I'm used to seeing only "Charge", "Payment", and "Balance". So I guess the answer is to get rid of the "Amount" column to standardize my displays. How?

The help is is tremendous. I only wish other venues were the same.

Eric Johnson

Eric Johnson

Found the selection on the tiny gear icon to select what is shown on a register. Thanks for your patience.

volvogirl

Yes get rid of that Amount column. That extra Amount column can be confusing. I would delete it and just enter the $ in the right column, either Payments or Deposit. Click on the Gear Icon right above the balance column, click on Register Columns and uncheck the "Amount" Column (1st one) and make sure the Deposit and Payment columns are checked. Payments is at the very bottom of the list.

Eric Johnson

Got it. Thanks. I'm surprised that both these "options" are's a part of "Preferences". That's where I was looking for them at least. The option would be Edit/Preferences. Then a selection would be "Display" and you'd select 1 or 2 line display and then pick your choices for the display. That's how it would be if I ran the zoo.