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

thallstd
thallstd Quicken Mac Subscription Member

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

Comments

  • splasher
    splasher Quicken Windows Subscription SuperUser ✭✭✭✭✭

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

    -splasher using Q continuously since 1996
    - Subscription Quicken - Win11 and QW2013 - Win11
    -Questions? Check out the Quicken Windows FAQ list

  • Jon
    Jon Quicken Mac Subscription SuperUser, Mac Beta Beta
    edited January 2024

    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
    thallstd Quicken Mac Subscription Member

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

This discussion has been closed.