When you look at the account register, you should see two columns next to the balance column. The column on the right (Charge or Increase if not using accounting labels) should begin with 9,851.37; all charges should be in that column as positive entries. All payments should be positive entries in the left column (label Payment or Decrease). The labels depend on whether you selected liability or credit card for the type of account.
Dale PS Always send mail to the list, too. On Mon, Nov 27, 2023 at 3:50 PM Tom Balazs <tom123onl...@gmail.com> wrote: > I see that Reverse Balanced Accounts is: > Income and Expense: unchecked > Credit Accounts: checked > None: unchecked > > GnuCash 4.8 > Ubuntu 22 > > Tom > > > On Mon, Nov 27, 2023 at 4:44 PM Tom Balazs <tom123onl...@gmail.com> wrote: > >> However, in my chart of accounts, I see that Credit Card 1 has a balance >> of positive $9,000. >> But my Loans show as a negative balance. >> Why is that? >> >> Tom >> >> On Mon, Nov 27, 2023 at 4:43 PM Tom Balazs <tom123onl...@gmail.com> >> wrote: >> >>> Yes, in my chart of accounts it is "Liabilities: Credit Card 1" >>> >>> Tom >>> >>> On Mon, Nov 27, 2023 at 4:41 PM Tom Balazs <tom123onl...@gmail.com> >>> wrote: >>> >>>> Under preferences I see "Accounts / Reverse Balanced Accounts" and >>>> Credit accounts is checked. >>>> >>>> Does that mean that a credit card balance of $100, is actually -$100 in >>>> my net financial worth? In which case it is correctly checked? >>>> >>>> Tom >>>> >>>> On Mon, Nov 27, 2023 at 4:37 PM Tom Balazs <tom123onl...@gmail.com> >>>> wrote: >>>> >>>>> Yes, I have. >>>>> >>>>> Tom >>>>> >>>>> On Mon, Nov 27, 2023 at 2:27 PM Dale Alspach <alspac...@gmail.com> >>>>> wrote: >>>>> >>>>>> Have you cleared all of the transactions from your statement? >>>>>> Dale >>>>>> >>>>>> Dale >>>>>> >>>>>> On Mon, Nov 27, 2023, 12:02 PM Tom Balazs <tom123onl...@gmail.com> >>>>>> wrote: >>>>>> >>>>>>> I'm having trouble understanding the GnuCash Reconciliation window. >>>>>>> Specifically, the Ending Balance, Reconciled Balance, and Difference. >>>>>>> Note: I'm not using GnuCash for my personal finances. And I'm not >>>>>>> doing >>>>>>> that because I'm good with my finances. I have struggled with this >>>>>>> stuff. >>>>>>> >>>>>>> You may want to jump to the end of this message. But here is a >>>>>>> detailed >>>>>>> explanation of my situation. >>>>>>> >>>>>>> Credit Card Statement Says >>>>>>> Previous Balance: $9,851.37 >>>>>>> Payments Made During This Statement Period >>>>>>> ... $9,843.38 >>>>>>> ... $7.99 >>>>>>> = $9,851.37 So I effectively begin this statement period with a $0 >>>>>>> balance >>>>>>> on my credit card. >>>>>>> Purchases $4,448.88 >>>>>>> ... 69 purchase transactions >>>>>>> >>>>>>> GnuCash >>>>>>> What should my opening balance be? >>>>>>> In my Credit Card Ledger I begin with a transaction named "Opening >>>>>>> Balance", Transfer Account: "Equity: Opening Balances", Charge: >>>>>>> $9,851.37. >>>>>>> That shows in the "Equity: Opening Balances" ledger as a "Decrease" >>>>>>> of >>>>>>> $9,851.37. >>>>>>> So I begin this credit card statement period with a liability >>>>>>> balance of >>>>>>> $9,851.37. >>>>>>> Just as the Credit Card Statement says: Payments are Made During This >>>>>>> Statement Period >>>>>>> ... $9,843.38 >>>>>>> ... $7.99 >>>>>>> = $9,851.37 Payments Made >>>>>>> >>>>>>> Then just as on the credit card statement I go on to make 69 purchase >>>>>>> transactions totaling $4,448.88. >>>>>>> >>>>>>> I go to the GnuCash Reconciliation window >>>>>>> ... Funds In Total: $9,851.37 >>>>>>> ... Funds Out Total: $14,300.25 >>>>>>> Simple math shows me: Funds Out $14,300.25 - Funds In $9,851.37 = >>>>>>> $4,448.88 >>>>>>> So, I'm doing something right. >>>>>>> >>>>>>> But the GnuCash reconciliation window also shows me: >>>>>>> Ending Balance: -$4,448.88 >>>>>>> Reconciled Balance: $4,448.88 >>>>>>> Difference: $8,897.76 >>>>>>> Shouldn't I get to "Difference = $0". This looks like it's telling >>>>>>> me I did >>>>>>> something wrong. >>>>>>> What am I missing here? Is this telling me that it is all matched and >>>>>>> reconciled? >>>>>>> _______________________________________________ >>>>>>> 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.
