[GNC] credit account negative balance increases with payment

[Custom Shots]

Yes, they are all Liabilities:CreditCard:"specificcreditcard"

On Mon, Mar 6, 2023 at 9:47 AM Custom Shots <customshots at gmail.com> wrote:

> The credit card starts as Liabiliies:CreditCard:"specificcreditcard" It's
> not that charges are reducing the balance. Charges and Payments, both,
> increase the balance owed. The other half of the transaction, calculates
> correctly.
>
> On Mon, Mar 6, 2023 at 9:21 AM Murugan Muruganandam <
> m.muruganandam at hotmail.com> wrote:
>
>> Can you please explain what  account type you have selected to create
>> this credit card account?  your charges are reducing your outstanding and
>> not the other way around?
>>
>>
>>
>>
>> Saludos Cordiales
>>
>>
>> Murugan
>> ------------------------------
>> *From:* gnucash-user <gnucash-user-bounces+m.muruganandam=
>> hotmail.com at gnucash.org> on behalf of Custom Shots <customshots at gmail.com
>> >
>> *Sent:* Monday, March 6, 2023 1:09 PM
>> *To:* john <jralls at ceridwen.us>
>> *Cc:* gnucash-user at gnucash.org <gnucash-user at gnucash.org>
>> *Subject:* Re: [GNC] credit account negative balance increases with
>> payment
>>
>> John Ralls,
>> In GnuCash Preferences: Accounts: Reverse Balance Accounts: Credit
>> Accounts
>> is selected. That shows amounts owed as negative numbers.
>> After adjusting settings as others have suggested, I have seen another
>> anomaly. This is happening with only one credit account. I have four
>> credit
>> accounts. The other three are working properly. This one in question is
>> the
>> only one that is incorrect. I am attaching a screenshot of the register as
>> it is after changing settings. Like this or with reverse balance accounts
>> credit selected the balance should go down after a payment. It doesn't it
>> goes up. Even with negative numbers, the negative balance owed goes up
>> meaning I owe more after a payment.
>>
>> On Sun, Mar 5, 2023 at 10:45 AM john <jralls at ceridwen.us> wrote:
>>
>> >
>> >
>> > > On Mar 5, 2023, at 7:03 AM, Michael or Penny Novack <
>> > stepbystepfarm at comcast.net> wrote:
>> > >
>> > > On 3/4/2023 1:26 PM, Custom Shots wrote:
>> > >> I just noticed this. Something has changed. I keep 30 day backups and
>> > this
>> > >> has been going on in all my backups. When I add a payment transaction
>> > to my
>> > >> credit card account the negative balance increases instead of
>> > decreasing.
>> > >> Any clues to what is happening? I am using GnuCash Version: 4.8 Build
>> > ID:
>> > >> 4.8a+(2021-09-28) on Ubuntu 2022.04.2. The second half of the double
>> > entry
>> > >> transaction, the withdrawal from my checking account, works
>> correctly.
>> > >
>> > > Are we confusing you?
>> > >
>> > > Let's go back to the beginning (and that is where the mistake was)
>> > >
>> > > What are you saying when you say "the credit card balance is
>> negative"?
>> > What are you saying when you say "I owe you ten dollars" vs "I owe you
>> > NEGATIVE ten dollars".
>> > >
>> > > The credit card account is a liability. If it INCREASES it means you
>> owe
>> > more. If it decreases it means you owe less. So the transactions are
>> doing
>> > the right thing. Your problem was with the initial balance. IF you
>> started
>> > out owing NEGATIVE five hundred dollars and you made a payment of two
>> > hundred dollars the balance should be negative seven hundred dollars. In
>> > other words, your transactions were doing the right thing but your
>> initial
>> > balance was on the wrong side of the ledger.
>> > >
>> > > OK, you are where you are, how to correct your books. You apparently
>> > started your books with an amount for the credit card account of some
>> > negative amount X. So now you need to enter a correction transaction in
>> the
>> > amount of 2X. The debit side would be starting equity and the credit
>> side
>> > your credit card account. You are reducing your equity by 2X because you
>> > initially overstated it by X and you did owe X.
>> >
>> > Michael,
>> >
>> > Careful: The representation of the balance in the register depends on
>> > Preferences>Accounts>Reversed Balance Accounts. What you say is correct
>> if
>> > the default Credit Accounts is selected, but if either of the others is
>> > selected then a credit card (or any other liability and equity) register
>> > will show a negative balance when used in the normal way.
>> >
>> > Custom Shots,
>> >
>> > Please tell us what you have set for that preference.
>> > Regards,
>> > John Ralls
>> >
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>>
>