Banking
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Hello my bank balance in one of my credit cards is the negative of the QuickBooks balance
For example -$500 in bank balance and then +$500 in quickbooks. Is this because we owe the bank $500 (as used up credit) so it shows as negative in bank account, and in quickbooks we have expensed the $500 item out so it shows as we need to pay off $500 therefore positive. Then once we make a payment for $500 both would clear back to zero ? Am I understanding this correctly ?
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