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January 9, 2024
Question

Why are my credit card balance showing up as a negative balance ?

  • January 9, 2024
  • 1 reply
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1 reply

January 9, 2024

Hi there oowensiijgvmd88c,

 

Thanks for reaching out about your credit card balance. QuickBooks Online is a great tool able to help you keep track of expenses and payments made on your credit card to help you make sure they're entered correctly in your books. I can provide some information about credit card balances.

 

A credit card account type in QuickBooks Online with a negative balance represents a credit card that has been overpaid, as spending money with the card will increase the balance shown, and a payment from the bank to the credit card will lower the balance. That being said, possible causes would be missing expenses, a duplicate payment on the card, as well transactions with the incorrect balance, or that were not supposed to affect the credit card. What I would recommend doing would be reconciling this account, as this will help identify the transactions that should be affecting the books, as well as others that are affecting the wrong account, or shouldn't be there at all. You can view information about reconciling an account in this article.

 

If you have any other questions, feel free to reach out here.