This post has been closed and is not open for comments or answers.
Quicken Community Home Page

quicken is reversing credit card transactions

since I overpaid the credit card balance every transaction is the reverse charges are deducted and payments are added
1.) When you make a credit card purchase, the credit card balance always becomes more negative (less positive).
2.) When you make a credit card payment, the credit card balance always becomes more positive (less negative).

If the credit card balance is already positive (greater than zero) when you make a purchase ... that balance is going to get less positive ... as per #1.

If the credit card balance is already postive (greater than zero) when you make a payment ... that balance is going to get more positive .... as per #2.

[Note that when you overpay, the credit card company owes you the money, so the Quicken balance amount changes from negative (red) to positive (black). That's a clue for you to be aware that you need to think of the balance differently than when you owe the credit card company.]

Examples:

If the credit card balance is -$100 (red) and you make a $25 purchase, the balance will become $-125 (more negative).

If the credit card balance is -$100 (red), and you make a $25 payment, the balance will become -$75 (less negative).


If the credit card balance is +$100 (black) and you make a $25 purchase, the balance will become +$75 (less positive).

If the credit card balance is +$100 (black) and you make a $25 payment, the balance will become +$125 (more positive).
  • Basically, it means if you overpaid then what you are seeing is right.
  • I am having a similar problem only in my case, I established a new credit card account (because Quicken didn't recognize I already had one set up when I downloaded transactions).  When I downloaded the transactions into the new account, although it shows an item as a "Charge", it is DEDUCTING it from the balance.  Items listed as a "Payment" are being ADDED to the balance.  Very frustrating!  My other CC accounts are functioning fine, so there seems to be a new glitch in Quicken.
You probably don't have a right beginning balance.  Sounds like you're running a credit balance. Is the balance in red or black? Look back through your transactions and maybe you'll spot one that was entered backward. Or a payment in the charge column or a charge in the payment column. Look around back where this first started happening.  Or maybe you are missing some charges?

Also make sure you have the right starting balance.  If it's zero you might need to add a beginning balance for when you started the account in Quicken.

The credit card balance you OWE should be in RED. If the balance is Black then it's showing the credit card company owes you and you have a credit balance. And then when you make a payment it's like the cc owes you more. So you need to go back though your entries and find where the balance switched to black to being in your favor.

See this for more info…..
http://quicken.intuit.com/support/help/account-transaction-issues/a-positive--black--balance-in-credit-card-account/GEN82008.html
  • THANK YOU, volvogirl!  The new account had a starting balance that showed a positive/black balance.  I can't figure out where that came from, but when I deleted it, the activity is posting as it should be.