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jennifersienes
February 21, 2021
Question

My credit card is set up correctly, so why do the payments increase the balance in the register rather than decrease it?

  • February 21, 2021
  • 1 reply
  • 0 views
I have multiple credit card accounts, and it's the only one that has an issue.

1 reply

IamjuViel
IamjuViel
February 21, 2021

Hello there, @jennifersienes.

 

Let me share some information about how QuickBooks handles the recording of your credit card transactions.

 

A credit card balance is the total amount of money you owe. When you make a payment, the amount is subtracted from the balance. It will be posted to the DEBIT side. Your balance decreases and your available credit increases. This means you're reducing your credit card balance or the amount you owe to the credit card company. 

 

You'd want to compare the transactions on your credit card records to what was entered in QuickBooks. Also, you'd want to review how your payments are recorded. Here are the different ways to record a credit card payments in QuickBooks:

 

You can read through this article for the most detailed steps: Record your payments to credit cards.

 

Also, I'd recommend consulting with an accountant so you'd be guided accurately in managing your credit card transactions.

 

Lastly, I'm adding these articles to help you manage your transactions:

 

I'll be around in case you need further help. Leave a comment below, and I'll get back to you. 

G
gladsd
December 29, 2023

I checked all my transactions and it's showing correctly per your example. I checked my chart of accounts and the credit card is showing as a credit card account. Yet all my transactions are reversed. I see multiple questions throughout the years requesting help on this. Has there been a solution?

R
rvrfrf
December 29, 2023

Thanks for joining the Communikty and getting involved with this thread, gladsd.
 

To properly identify why your transactions are showing as reversed, I'd recommend working with an accounting professional. If you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.
 

I've also included a couple detailed resources about working with your chart of accounts which may come in handy moving forward:
 

 

I'll be here to help if there's any additional questions. Have a lovely Friday!

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