That is the correct way to record a payment to the credit card. Of course, if the balance prior to the payment was really positive $500 then the new balance would be positive $700. I think you meant that the original balance was minus $500 so that the new balance would be minus $300.
You can run ledger bal credit to check (do this before and after you make the payment entry) On Tuesday, September 22, 2020 at 7:48:12 AM UTC+8 Oliver Hardy wrote: > No, I had the opening credit card balance from back in July as a negative > number. One last question, if I may. > If I have a credit card balance of $500.00 but only pay $200.00 is this > correct: > > 2020/09/01 Bank > Liabilities:Credit Card $200.00 ; partial payment > Assets:Checking > > or is there some way to indicate this is a partial payment against a > $500.00 outstanding balance? > > Thank you > > On Monday, September 21, 2020 at 3:47:25 PM UTC-4 [email protected] > wrote: > >> Your sample transaction is already correct. I would need to see all of >> your credit card transactions to pin point any errors. I'm guessing that >> when you originally did an opening balance on your credit card that you put >> a positive balance instead of a negative balance on the card? >> >> On Tuesday, September 22, 2020 at 3:17:59 AM UTC+8 Oliver Hardy wrote: >> >>> I understand what you are saying. My qusetion now is: How do I fix it? >>> Do I edit my ledger file and put a minus sign before all credit card >>> transactions? Or only before payments I've made to the card? Is the way I >>> enter my credit card transactions incorrect? Do I go to the start of the >>> file and edit opening balances? >>> >>> Thanks >>> >>> On Monday, September 21, 2020 at 1:57:54 PM UTC-4 [email protected] >>> wrote: >>> >>>> Ordinarily a credit card would have a negative balance (that is, the >>>> balance should be $-333.07) so that when you do a spend on the credit card >>>> the balance will becomes -$333.07 -$55.00 = -$388.07. >>>> >>>> If your credit card has a positive balance then it means that you made >>>> deposits that totaled more than what you owed on your credit card and that >>>> would mean that your new balance is as reported. Something tells me that >>>> this is not the case ...... >>>> >>>> On Tuesday, September 22, 2020 at 1:32:30 AM UTC+8 Oliver Hardy wrote: >>>> >>>>> If I run: >>>>> ledger -p sep reg credit >>>>> I get a listing of all credit card transactions for the month of >>>>> September. >>>>> My problem is that the running balance is always decreasing instead of >>>>> increasing. >>>>> >>>>> I have a balance of $333.07. I enter a transaction for $55.00 >>>>> 2020/09/01 Health >>>>> Expenses:Insurance $55.00 >>>>> Liabilities:Credit_Card >>>>> The running balance shown on the report is now $248.34 ($333.07 - >>>>> $55.00). >>>>> Shouldn't it be $581.41 ($333.07 + $55.00)? >>>>> >>>>> Am I doing something wrong or is this how double entry accounting is >>>>> supposed to work? >>>>> >>>>> Thank you >>>>> >>>> -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/ledger-cli/2e20c8d7-7eee-47fb-9bd0-67c639ab5fb8n%40googlegroups.com.
