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.
