United States United Kingdom Australia Canada (English) Canada (French) France Singapore South Africa Global Ireland
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
deanhowell
Level 2
posted
‎July 02, 2020 12:52 PM
last updated ‎July 01, 2020 7:52 PM

Bank Balance reverse of Quickbooks

Hello my bank balance in one of my credit cards is the negative of the QuickBooks balance

 

bank.png

 

 

Solved
Reply
Best answer July 02, 2020
Solved

Best Answers
Lucas - Product Champion
Content Creator
‎July 02, 2020 04:33 PM

Bank Balance reverse of Quickbooks

Hi deanhowell, 

 

Depending on how your account has been set up, that can be the correct behaviour. As a Credit card account is a liability, when it shows up in the Chart of Accounts and the In QuickBooks section, it will display a positive amount when there has been money spent on the credit card, and a negative amount when the card has been overpaid. In the Banking section, though, the Bank balance will be a negative as it is displaying money that has been spent. When you record a payment on the credit card and record that in Quickbooks, it will move both values closer to zero, as it is closer to being balanced and paid off from both perspectives. 

 

If you have any other questions, feel free to reply in this thread and we'll be happy to answer any other questions that you have!

 

-Lucas

View solution in original post

Reply
2 Comments 2
Lucas - Product Champion
Content Creator
‎July 02, 2020 04:33 PM

Bank Balance reverse of Quickbooks

Hi deanhowell, 

 

Depending on how your account has been set up, that can be the correct behaviour. As a Credit card account is a liability, when it shows up in the Chart of Accounts and the In QuickBooks section, it will display a positive amount when there has been money spent on the credit card, and a negative amount when the card has been overpaid. In the Banking section, though, the Bank balance will be a negative as it is displaying money that has been spent. When you record a payment on the credit card and record that in Quickbooks, it will move both values closer to zero, as it is closer to being balanced and paid off from both perspectives. 

 

If you have any other questions, feel free to reply in this thread and we'll be happy to answer any other questions that you have!

 

-Lucas

Reply
deanhowell
Level 2
‎July 02, 2020 05:11 PM

Bank Balance reverse of Quickbooks

Thanks that makes sense just hadn't seen it before. 

Reply