Synchrony bank has reversed debits/credits

[Mike or Penny Novack]

On 6/27/2016 3:10 PM, David Carlson wrote:
> I cannot believe it but that bank generates OFX files for a credit card
> account with type debit for a payment and credit for a charge.  Is there
> any easy way to import such a corrupted file into GnuCash?
>
> They also have weird rules about password usage, but we don't need to go
> there.
>
> David C
No they haven't, not "corrupted". What has you confused is you aren't 
taking into account the difference because  the points of view of THEIR 
books and YOUR books are opposite. You bank statement is the same way, 
their point of view vs yours.

Pretend for just a moment you were running the credit card company and a 
customer sent in a payment. You would record that as a ..............   
Now suppose they borrowed an additional amount (charged something). You 
would record that as a ...............

Make sense now? They are showing you that portion of THEIR books that 
refers to your account with them. They aren't sending you something 
being prepared for you to directly upload into your books (they aren't 
sending you what should be your account with them in YOUR books)

Michael D Novack