Thanks for confirming that you selected Reverse Balance Accounts: Credit
Accounts. That's the setting I use, so I can speak confidently about how
GC works in our case.
I'm assuming (I think we all are) that when you created the account and
entered your opening balance, you owed money on the credit card or
perhaps had a zero balance. Please confirm whether that's accurate.
Someone asked if perhaps you initially made an error by entering the
opening balance as a negative rather than a positive. Is that a possibility?
Look at that account's register, scroll up to the top if necessary, and
look at the very first entry. If you owed money on that credit card when
you started with GC, the first entry should have a positive number in
the Credit (middle) column of the three money columns, and the Balance
(third) column should also be positive.
If you see a positive balance in the Debit (first) money column and also
in the Balance (third) column, something is very wrong and I can't
advise you. I think that's pretty darned unlikely, and I'm mentioning it
only for completeness.
If you see a positive balance in the Debit (first) money column and
negative balance in the third column, there's your problem. There are
two ways to fix this.
(option A) Delete the number from the Debit column and put (still as a
positive) in the Credit column. That will of course put your books out
of balance by double the amount, which you'll need to fix. If you don't
see all the splits of the transaction, click Split in the menu at the
top of the GC window, then figure out what the reversing entry should be
and edit accordingly. Run a balance sheet to make sure everything is in
balance now.
(option B) The conservative practice would be to make an adjusting entry
as of today. Assuming the opening balance was -123.45, the entry would be:
Description: Correct opening balance of _____ credit card, entered
backward by mistake
Debit to Equity:main Equity account: 246.90 (double the opening balance)
Credit to Liabilities _____ credit card account 246.90
The numbers will still be wrong from the start to yesterday, but there
will be no question about what haoppened and how you fixed it.
HOW TO CHOOSE: Some people don't like changing historical records, and I
see their point because it can make changes harder to track. Also, with
the old pen-and-ink bookkeeping, which GC generally emulates, prior
entries couldn't be changed. If these books are just for your own use,
tracking is less of an issue because I daresay after all this kerfuffle
you'll remember what you did. But a real accountant would most liklely
choose option B even so.
Stan Brown
Tehachapi, CA, USA
https://BrownMath.com
On 2023-03-06 08:09, Custom Shots wrote:
> 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.
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