Why does credit card account balance appear to calculate balance backwards?
Best Answers
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When we enter a payment to a credit register, we add to the balance. When we enter a charge to credit register, we subtract from the balance. What usually confuses people is the sign of the running balance. Normally, a credit running balance is negative (red). If you've overpaid the balance, had a significant return, have sorted, or filtered the register, you may be seeing a running balance that is positive.
If you haven’t already, you may want to verify the register is sorted appropriately and there aren’t any unexpected filters being applied: open the register, select the Date column header (you want the small triangle to right of Date to point up) and Reset.
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Hope this helps
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.....
https://www.quicken.com/support/positive-black-balance-credit-card-account
I'm staying on Quicken 2013 Premier for Windows.
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Answers
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When we enter a payment to a credit register, we add to the balance. When we enter a charge to credit register, we subtract from the balance. What usually confuses people is the sign of the running balance. Normally, a credit running balance is negative (red). If you've overpaid the balance, had a significant return, have sorted, or filtered the register, you may be seeing a running balance that is positive.
If you haven’t already, you may want to verify the register is sorted appropriately and there aren’t any unexpected filters being applied: open the register, select the Date column header (you want the small triangle to right of Date to point up) and Reset.
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I checked all of that already and also ran validate and repair twice with no luck.
The account was started in 2010. It was all correct the last time I opened it. Now the entire account balance has changed right back to the first entry. The first charges from 2010 to start the account are entered in the charge column as they should be but the balance column shows a red negative balance which increases with every charge.
The payments entered in the payment column decrease the red negative balance. The charges and payments are entered correctly, only the balance is wrong right back to the beginning.0 -
"but the balance column shows a red negative balance which increases with every charge. "That's the way it's supposed to work with a Liability (i.e., credit card) account. Each charge makes the account more negative (further from $0) while each payment makes the account less negative, or even positive if you over pay.Are you familiar with the phrase "in the red" (meaning that you owe)? Quicken is displaying that.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
Hope this helps
Sounds like you're running a credit balance. Is the balance in red or black? Look back through your transactions and maybe you'll spot one that was entered backward. Or a payment in the charge column or a charge in the payment column. Look around back where this first started happening. Or maybe you are missing some charges?
If the balance is in Black, it means you have a credit on the card. Like if you overpaid the bill or got a refund for something you returned. When you enter a charge it will reduce (decrease) the credit you have available on it. And a payment will increase the balance.Also make sure you have the right starting balance. If it's zero you might need to add a beginning balance for when you started the account in Quicken.
The credit card balance you OWE should be in RED. If the balance is Black then it's showing the credit card company owes you and you have a credit balance. And then when you make a payment it's like the cc owes you more. So you need to go back though your entries and find where the balance switched to black to being in your favor.
See this for more info.....
https://www.quicken.com/support/positive-black-balance-credit-card-account
I'm staying on Quicken 2013 Premier for Windows.
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I am having the same issue. It appears the code calculating the balance on the credit card is subtracting when it should add and adding when it should subtract. When I enter a payment ($ from my bank to the credit card company) the balance on the card increases. A credit card transaction (me buying something with the card) decreases the balance on the card. I have been using Quicken Home and Business for many years and this has happened in the last year. I'm to the point of deleting the whole credit card account and starting fresh. Not exactly how I want to spend my free time but I'm not sure there's any other option.0
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Didn't you read this whole thread? Read it again slowly.
I'm staying on Quicken 2013 Premier for Windows.
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