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Level 1

Does anyone know why for my expenses one of my credit cards would be a positive number and the other credit card would be a negative number?

 
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QuickBooks Team

Does anyone know why for my expenses one of my credit cards would be a positive number and the other credit card would be a negative number?

Hi there, userthestylerevivala. Welcome to the Community.
 

If your credit card account's expenses don't look correct, there may be an issue with their beginning balances.
 

Here's a few things that can cause issues with an opening balance:

  • Missing or duplicate transactions.
  • Transactions older than the opening balance were added without your original entry being edited to reflect a change.
  • An incorrect opening balance was entered when creating the account.


You'll want to start by reviewing your original entry and comparing it with the real-life account.
 

Here's how:
1. If there's any transactions from before you entered your opening balance, reconcile them.
2. In the left navigation bar, go to Accounting, then Chart of Accounts.
3. Locate your account and click View register.
4. Find the opening balance record. It will be titled "Opening Balance Equity" in your Account column. Take note of its date and balance.
If you forgot to enter one, but you've already began tracking, you'll need to input it manually.
5. Sign in on your bank's website, or get a copy of the relevant bank statement.
6. Search for what the account's balance was on the same day you set it up.
7. Compare your amount from the bank to what you entered in QuickBooks.

  • If they match, you entered it correctly. Next, you'll want to review your account register.
  • In the event neither amounts match, proceed with our following steps to edit it.

8. Click your opening balance entry to expand its view, then edit the amount in your Deposit column so it matches what the bank shows.9. Press Save to complete your changes. Select Yes if you're asked to confirm the update.
 

It's also recommended that you reach out to an accountant for assistance with understanding why one account's expenses show as a positive number, while another displays a negative value. If you're in need of an accounting professional, Intuit has a useful tool called Find an Accountant which can be used to locate the right one for your business. Each ProAdvisor you'll find on that part of our website is QuickBooks-certified and able to provide helpful insights to drive your business's success.
 

Please feel more than welcome in sending a reply if there's any other questions. Have a fantastic day!

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