My GnuCash is the same way; I have "Reverse Balanced Accounts" is set for Credit accounts. I don't remember changing this, so it may have come this way. I also am not using the formal accounting labels.
Regardless, charges to the card should be in the right-hand column, and payments should be in the left column. On Mon, Nov 27, 2023 at 4:50 PM Tom Balazs <tom123onl...@gmail.com> wrote: > In the Reconcile window I have checked off all the appropriate transactions > as reconciled. > > 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? > > My credit card is a liability. In my chart of accounts it is "Liabilities: > Credit Card 1" > > 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? > > I see that Reverse Balanced Accounts is: > Income and Expense: unchecked > Credit Accounts: checked > None: unchecked > > I'm using: > GnuCash 4.8 > Ubuntu 22 > > > > On Mon, Nov 27, 2023 at 1:01 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. > -- _________________________________ Richard Losey rlo...@gmail.com Micah 6:8 _______________________________________________ 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.
