How to input a positive balance when reconciling
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raininghere
Member ✭
On the USE STATEMENT BALANCE method of reconciling, I cannot input a positive Statement Ending Balance. Anyone know how to do this? Thanks.
0
Best Answer
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It depends on the Account type:
Cash/banking accounts normally assume the amounts are positive. You shouldn't have to sign the amount.
Credit Cards (which I suspect you are dealing with) show the transactions/balance as negative amounts, but you enter the amounts unsigned (appearing positive) like they are on the paper statements.
If this is a credit card account with a truly positive balance (such as from a credit), then enter a negative amount for the balance, This isn't normal, but will make the number used positive for calculations as it will be opposite of what the program is expecting.
6
Answers
-
It depends on the Account type:
Cash/banking accounts normally assume the amounts are positive. You shouldn't have to sign the amount.
Credit Cards (which I suspect you are dealing with) show the transactions/balance as negative amounts, but you enter the amounts unsigned (appearing positive) like they are on the paper statements.
If this is a credit card account with a truly positive balance (such as from a credit), then enter a negative amount for the balance, This isn't normal, but will make the number used positive for calculations as it will be opposite of what the program is expecting.
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Thank you, John. Your method worked!0
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