On 3/4/2023 1:26 PM, Custom Shots wrote:
I just noticed this. Something has changed. I keep 30 day backups and this
has been going on in all my backups. When I add a payment transaction to my
credit card account the negative balance increases instead of decreasing.
Any clues to what is happening? I am using GnuCash Version: 4.8 Build ID:
4.8a+(2021-09-28) on Ubuntu 2022.04.2. The second half of the double entry
transaction, the withdrawal from my checking account, works correctly.
Are we confusing you?
Let's go back to the beginning (and that is where the mistake was)
What are you saying when you say "the credit card balance is negative"?
What are you saying when you say "I owe you ten dollars" vs "I owe you
NEGATIVE ten dollars".
The credit card account is a liability. If it INCREASES it means you owe
more. If it decreases it means you owe less. So the transactions are
doing the right thing. Your problem was with the initial balance. IF you
started out owing NEGATIVE five hundred dollars and you made a payment
of two hundred dollars the balance should be negative seven hundred
dollars. In other words, your transactions were doing the right thing
but your initial balance was on the wrong side of the ledger.
OK, you are where you are, how to correct your books. You apparently
started your books with an amount for the credit card account of some
negative amount X. So now you need to enter a correction transaction in
the amount of 2X. The debit side would be starting equity and the credit
side your credit card account. You are reducing your equity by 2X
because you initially overstated it by X and you did owe X.
Michael D Novack
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