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Leeanne79
June 4, 2019
Question

Credit Card Reconciliation

  • June 4, 2019
  • 1 reply
  • 0 views

I have a new credit card and have just tried to reconcile it. The starting balance was $0 and closing balance was $8000. I checked off all transactions and they are all good however at the end it has doubled the amount to $16,000 (when I assumed it would be $8000) and I don't why it has done this. Are you able to help?

1 reply

J
Joyce_P
June 4, 2019

Hello there, Leeanne79.

 

There are a few possible reasons why your balance is not showing up the correct amount after reconciling your credit account.

 

It could be that there are transactions that are already beyond the time period. If so, the automatically-recorded opening balance may not be the correct beginning balance. Also, this article provides the causes and troubleshooting to resolve them.

 

I've also provided some helpful articles about Reconciliation: 

The Community team is always here if you need more help with this. 

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