Chart of Accounts

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Catherine_7093699
Catherine_7093699 Member Posts: 1 ✭
edited August 2019 in Reckon Accounts (Desktop)
chart of accounts the details on my credit card my charges are increasing my balance total instead of coming off and all my payments are coming off my balance total and not adding to my balance total how do I fix this please

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  • Sue Spindler, Eicor Resources
    Sue Spindler, Eicor Resources Member Posts: 1 ✭
    edited August 2019
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    What you describe is exactly what I would expect to happen for a credit card type account in Reckon Accounts, the credit card charges increase the balance and the payments decrease it. Can you clarify what version of Reckon you are using and where you are looking at what you call the 'balance total'?
  • Kevin Silberberg
    Kevin Silberberg Member Posts: 50 ✭
    edited July 2015
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    Sue is quite correct.  Each credit card purchase increases the liability which is reported as a positive number in the General Ledger account for the particular credit card.  When a payment is made, the credit card liability is reduced by the amount of the payment.

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