Credit Card Account Balance incorrect

jmelong

I have 3 credit card accounts in Quicken. Only the Chase account has this issue. I use one step update with the Chase Account. The problem is this. When I add a "charge" to the register, the balance decreases, not increases. When I pay my monthly Bill and add that to the "payment" column, the balance increases, not decrease. Both columns affect the Balance in reverse.

My checking accouunt, also using one stop update, does not have the issue.

I know this Credit Card Account did not always do this, but it doe now. How do I correct this problem

volvogirl

Are you using both the charge and payment columns instead of 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