Yes, they are all Liabilities:CreditCard:"specificcreditcard" On Mon, Mar 6, 2023 at 9:47 AM Custom Shots <customsh...@gmail.com> wrote:
> The credit card starts as Liabiliies:CreditCard:"specificcreditcard" It's > not that charges are reducing the balance. Charges and Payments, both, > increase the balance owed. The other half of the transaction, calculates > correctly. > > On Mon, Mar 6, 2023 at 9:21 AM Murugan Muruganandam < > m.muruganan...@hotmail.com> wrote: > >> Can you please explain what account type you have selected to create >> this credit card account? your charges are reducing your outstanding and >> not the other way around? >> >> >> >> >> Saludos Cordiales >> >> >> Murugan >> ------------------------------ >> *From:* gnucash-user <gnucash-user-bounces+m.muruganandam= >> hotmail....@gnucash.org> on behalf of Custom Shots <customsh...@gmail.com >> > >> *Sent:* Monday, March 6, 2023 1:09 PM >> *To:* john <jra...@ceridwen.us> >> *Cc:* gnucash-user@gnucash.org <gnucash-user@gnucash.org> >> *Subject:* Re: [GNC] credit account negative balance increases with >> payment >> >> John Ralls, >> In GnuCash Preferences: Accounts: Reverse Balance Accounts: Credit >> Accounts >> is selected. That shows amounts owed as negative numbers. >> After adjusting settings as others have suggested, I have seen another >> anomaly. This is happening with only one credit account. I have four >> credit >> accounts. The other three are working properly. This one in question is >> the >> only one that is incorrect. I am attaching a screenshot of the register as >> it is after changing settings. Like this or with reverse balance accounts >> credit selected the balance should go down after a payment. It doesn't it >> goes up. Even with negative numbers, the negative balance owed goes up >> meaning I owe more after a payment. >> >> On Sun, Mar 5, 2023 at 10:45 AM john <jra...@ceridwen.us> wrote: >> >> > >> > >> > > On Mar 5, 2023, at 7:03 AM, Michael or Penny Novack < >> > stepbystepf...@comcast.net> wrote: >> > > >> > > 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, >> > >> > Careful: The representation of the balance in the register depends on >> > Preferences>Accounts>Reversed Balance Accounts. What you say is correct >> if >> > the default Credit Accounts is selected, but if either of the others is >> > selected then a credit card (or any other liability and equity) register >> > will show a negative balance when used in the normal way. >> > >> > Custom Shots, >> > >> > Please tell us what you have set for that preference. >> > Regards, >> > John Ralls >> > >> > _______________________________________________ >> > gnucash-user mailing list >> > gnucash-user@gnucash.org >> > To update your subscription preferences or to unsubscribe: >> > https://lists.gnucash.org/mailman/listinfo/gnucash-user >> > ----- >> > Please remember to CC this list on all your replies. >> > You can do this by using Reply-To-List or Reply-All. >> > >> > _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.