Reconciling credit card (liability) accounts

Ashvin Goel ashvin at acm.org
Thu Aug 19 12:15:20 EDT 2004


I have a problem with reconciling my credit card (liability) accounts 
that doesn't seem to occur with my bank (asset) accounts. With a credit 
card account, when reconciling the account, I put the "Cleared" amount 
in the ending balance when the first reconcile window pops up. On 
pressing "Ok", I get the second reconcile window that shows that the 
difference is 0.00. This is expected behavior. Then I press the "Finish" 
button and now a "Transfer Funds" window pops up that asks me to 
transfer the same "Cleared" amount from one of my bank accounts to this 
credit card account. I think this latter window is incorrect because the 
second reconcile window shows that everything is reconciled correctly 
(difference is zero). This problem does not occur when reconciling my 
bank account. Does anybody else have a similar problem or is there 
something wrong I am doing?

Ashvin


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