How to fix Quicken - update function reverses "payment" & "charge" categories?

vocpsych Member ✭✭
The account synchronization feature is reversing the "payment" and "charge" categories. Is there any way to fix this?


  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited September 4
    Are you talking about downloading into credit card account registers?
    If so, is your account register sorted correctly by Date in ascending order?
    If you owe money to the bank, is the running Balance a negative number, shown in red? If the balance is shown as positive number, in black, your account is overpaid or out of sync with the credit card statements. You need to review your account register and resolve any discrepancies, e.g., duplicate transactions, missing transactions, incorrectly entered manual transaction (incorrect amount, incorrect sign: should be negative amount for charges, etc.)
  • vocpsych
    vocpsych Member ✭✭
    I'm talking about clicking on the "update" button and allowing quicken to download transactions into my accounts. I'm not sure what the rest of your response is referring to as I'm not talking about balancing the account - I'm talking about the Quicken function that allows you to download transactions from the bank to the Quicken program. Unless the software has changed significantly, I've never had to sort my register "correctly" nor has it mattered whether or not I was downloading to a checking/savings account (which should be in the "black") or a credit card (which is most likely to be in the red).

    If you could clarify a bit as to how this relates to Quicken putting all new transactions into the accounts, but having them reversed so that a "charge" is posted (by the download) as a "payment" and vice versa it would be very helpful.
  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
    Are the charges and payments actually being put in the wrong column?  Are you displaying the payment and charge columns?  OR are the charges just reducing the balance column and payments increasing the balance?

    If the balance is going the wrong way.  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?  Or entered a payment twice?

    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.....

  • vocpsych
    vocpsych Member ✭✭
    Yes, the charges and payments are actually being placed in the wrong column. Wow. Your response is belittling and rather insulating. I've had a checking account and various credit card accounts long enough so that I actually do know when an account is "in the red" or "in the black" and which accounts should appear in the "red" or the "black". I also know when an opening balance is correct or not. Please re-read my statement about the fact that the account balanced just last month. If it balanced last month, then wouldn't the opening balance be correct?

    Please let me re-iterate the issue. I'm using Quicken Home, Business & Rental Property version R43.14, Build for "Windows 11 Home". When I open the program and click on "update now", the software proceeds to connect with the various financial institutions and downloads the information on current transactions. After it completes the process, I click on the specific accounts to make sure that everything downloaded correctly. This is when I find that the downloaded transactions are identified correctly, however, the actual dollar amount (the "charge") is placed in the "payment" column and the payment is placed in the "charge" column by the software - not me.

    I hope that you are able to see that I'm discussing a software issue - not an issue related to how I enter data into my accounts. Thank you for taking the time to understand the issue about which I'm seeking assistance.
This discussion has been closed.