Credit Card Entries Work Backwards
With one of my credit card accounts, the balance now decreases when I enter a charge and increases when I enter a payment (another credit card account works correctly). I attempted to synch my accounts with Quicken online (under Mobile & Web tab) yesterday and that created numerous errors in multiple accounts going back years, but I have made some adjustments and canceled the synch function. I have verified that I am using the most current version of Quicken for Windows 11. How do I fix this one credit card account? Reload Quicken? Deactivate this account in Quicken and set-up a new one and link to my bank?
Answers
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In your graphic, the balance column is BLACK, indicating a positive amount … e.g., the bank owes you.
That's backwards. In a credit card, you typically owe the bank … so the balance column should be RED.
Which indicates that either you set up the account incorrectly, OR you've got duplicate payments OR missing charges OR your "Opening Balance" is in the wrong column.
The easiest of those to identify is the Opening Balance. Unless the bank actually did owe you money when you first created the account in Q, that number should be Charge column with the category pointing back to the same account, as shown.
Also note how I've saved the Opening Balance in the memo field. There's a long-standing quirk in Q that sometimes causes the OB amount to get changed. With this amount saved in Memo, if that ever happens to any account into which I download, I can easily spot the matter and know how to correct it.
Lastly, when did you last reconcile this account? OR have you only quite recently added it to Q?
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0
