How to post the payment made to credit card which is paid through my checking account?
I have read old threads but still my credit card account reflects negative amount. I have done the transfer method. So I reflect transfer from my checking account to my credit card account ( same as the threads have shown ). Yet my credit card balance is negative? How can we fix?
Thank you for reaching out to the Community. I'd be glad to lend a hand.
Before going into detail, I'd first reach out to your account to ensure that your books are accurate.
Generally, the balance on the credit card will show as negative as this is a liability account showing the balance owed. The bank account is an asset account and will show the balance as a positive amount. When you pay off the credit card fully, the balance will be as zero.
You may want to review each transaction in your register and make sure that your statements are matched up correctly, no missing or duplicate transactions, and if anything has been reconciled.