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Reconciliation accepts negative Ending Balance Entry (for CC) but changes to Positive

thallstd

I've been reconciling my CC with a neg balance for years. I can now enter the neg Ending Balance in the Use Statement Balance but when I go to the next screen where the items are listed the Statement Ending Balance is chown as positive, throwing the reconciliation out of balance.

Here's a loom vid of this: https://www.loom.com/share/69bb42255efd4f38b48e0f27a4437b54

I'm running Mac OS 12.7.1 with Quicken version 7.4.2 Build 704.51578.100

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Comments

splasher

Flagged for mods to move to Mac forum category, not a question about using the community.

Jon

That's the way it works. In Quicken, credit card accounts are like any other bank account which means when you spend money it's a negative transaction. That means your credit card account normally runs a negative balance indicating you owe the credit card company money. The balance on a credit card statement OTOH is from the bank's point of view, so when you owe them money it's shown as a positive value on the statement; a negative statement balance is the exceptional case where they owe you money.

When you reconcile a credit card account to a statement Quicken expects you'll enter the balance as shown on the statement. When you owe the bank money Quicken expects you'll enter a positive number since that what the statement has; Quicken then flips the sign to a negative on the next screen to match the account balance as shown in Quicken.

thallstd

Thanks Jon. Makes perfect sense. I just don't remember entering the balance as a positive for the last 20+ years.