This statement period begins with a negative balance, so the very first transaction (the first in the whole ledger) is in the right column, it is a "charge" for $9,851.37. Where a business refunded me $7.99 that appears in the left column as a "payment". When I paid down the credit card balance, that payment for $9,843.38 also appears in the left column as a "payment".
Tom On Mon, Nov 27, 2023 at 5:49 PM Dale Alspach <alspac...@gmail.com> wrote: > 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.
