Account type

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Why are my deposits being subtracted from my balance and payments being added? I manually input my data. This started after I manually entered splits for a credit card. I use Quicken in Windows.

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    I've asked a Mod to delete your post in the QMac forum. PLEASE don't double post. The "Flag" can be used to request a move.

    When you do TOOLS, Account List, and click EDIT adjacent to the particular account, what does it say next to the "Account Type" label?

    Also, what color is the amount in the BALANCE column next to the most recent transaction in the account?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • wkwkennedy
    wkwkennedy Member
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    In TOOLS it says checking and the BALANCE is Red

  • UKR
    UKR SuperUser ✭✭✭✭✭
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    A red balance amount indicates a negative amount and that you owe money to the bank.
    If this were a Credit Card account, I'd say it's correct. You owe money. A deposit should reduce the negative balance towards zero.
    However, you indicate that the account type is Checking. If this account really is a Checking account then a red (negative) balance means your account is overdrawn.

    You do want to check if your account register's Opening Balance transaction was entered correctly:
    In a Credit Card account, if you owe money to the bank, the transaction amount should be negative.
    In a Checking account (which should never be overdrawn) the amount should be positive.

  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
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    Look back through your transactions and maybe you'll spot one that was entered backward. Or a payment in the deposit column or a deposit in the payment column. Look around back where this first started happening. Or a deposit (or payment) transaction got erased and is missing.

    If your deposits are subtracting from the balance then you could be running a negative balance and the deposit is really reducing the negative amount. So the balance will show a lower number.

    If your payments are adding to the balance then you could be running a negative balance and the payment is really increasing the negative amount and your account is over drafted.

    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. And put the beginning balance in the memo field in case it gets lost again. Sometimes an update will reset the beginning balance. And put the beginning balance in the memo field in case it gets lost again. Sometimes an update will reset the beginning balance.

    Maybe the deposits (or payments) disappeared from the checking account because they were transfers from another account and maybe you changed the category on the other account to something else. Might want to check that.

    I'm staying on Quicken 2013 Premier for Windows.

  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
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    ALSO….are you splitting the credit card payment to all the categories? There is a better way.

    The proper way is to set up a credit card ACCOUNT and enter the charges into it when the purchase is made and assigning it to a category. Then when you pay the credit card bill you TRANSFER the payment from your checking account to the credit card account (not a category). Then if or when you download the payment from the bank you match it to the one you already entered.

    When you enter the payment in your checking account you put the credit card account name in for the category using square brackets around the name to indicate it is a transfer...like this… [credit card] or newer Mac versions have a separate Transfer column.

    I used to do it the wrong way for years! Then I wised up and now enter them properly. I would split my credit card payment into all the categories on one transaction in my checking account. And since I always pay more than the bill I would need to figure the difference and put it to another category. But then I needed to have them entered on the date the charges actually happened, especially at year end for taxes. So I finally set up a credit card account. It makes it much easier to enter and balance! And there are several other reasons.

    I'm staying on Quicken 2013 Premier for Windows.

  • wkwkennedy
    wkwkennedy Member
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    I do not link to my bank or credit card. I enter everything manually. The Deposit is in black and the balance is in red. I enter credit card charges in the split by category which then runs the correct CC balance. I am not overdrawn however it looks as if I am. The only reason I mentioned the credit card is that the balance was correct and I realized it had changed to a negative (red) amt after I manually entered some credit card charges manually in the split.

  • Procopio
    Procopio Member ✭✭✭
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    Check the opening balance on this account - the very first transaction. Sometimes that gets wonked and throws off the whole register.