Why is my credit card register adding my payment instead of subtracting?

Options
bugmenow
bugmenow Member ✭✭

So this has been going on for a couple years now and I keep forgetting to try and get it corrected. I've just adjusted to doing it backwards on this credit card register!

I normally put in the Charge (charge column) and it adds to the total register and then I put in the Payment (payment column) and it subtracts from the register. Instead…the Payment amount is being added to the registry not subtracted. The only way to make it work is to put the payment in the Charge column. And what makes it strange is that my other two credit card registers work fine. Weird, huh? Help.

I am on an iMac/ Ventura 13.6.7

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Options

    The customary method of using a card account is to record your purchases shortly after making them.

    THEN, when you get the statement from the bank, reconcile the card account.

    Initiate the payment to the card in whatever method you normally use (mine is via Direct Debit from the bank) and then record a TRANSFER from you bank account to the card account.

    Assuming that both are set up properly (as a banking and card account) the transactions will l appear in the correct columns.

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

  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
    Options

    First make sure you are sorted in Date order with the newest date at the bottom. If you are not then click the DATE Column heading to sort.

    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. I've been reading the opening balance might have got changed during an update or when syncing.

    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…..

    https://www.quicken.com/support/positive-black-balance-credit-card-account

    I'm staying on Quicken 2013 Premier for Windows.