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Credit card accounts incorrect on MS Money Plus Deluxe RRS feed

  • Question

  • Wondering if anyone else has had same problem?

    I have imported a QIF file into Money Plus deluxe sunset, containing a credit card statement.  Created new credit card account, entered current balance as a minus figure (-156.43).  The transactions are calculating the opposite way they should be.

    In other words the software is calculating the credit transactions as a charge to the account, and the charge transactions are being treated as credit to the account.  Plus the total of the credit account on the account list page is not shown as a minus figure, as it is presently.

    This problem is only happening from credit accounts, my bank accounts are calculating correct as withdrawals and deposits and transfers.  I am using Windows Vista with this free version of Money Plus.

    Woukd be very grateful if someone could help with this.

    Kind regards

    Dean

    Sunday, September 2, 2012 5:25 PM

All replies

  • In the account register for credit card, the amount you owe is
    positive.  At the bottom of the register it normally says something
    like "You owe: $123.45".  If it said "You owe: ($123.45)", you
    would be running a credit balance.


    You have entered the amount you owed as an initial balance as a
    negative number in the account details.  I suggest you make that a
    positive number.

    Note that in the numbers on the Account List, the amount you owe is
    shown as negative, and a credit balance would be shown as positive.
    But in the account register, things are the other way around.

    Sunday, September 2, 2012 5:54 PM
    Moderator
  • Did you ever get an answer because the one listed below doesn't work.  Where can I find the answer?  Do I change charges to credits and credits to charges?
    Thursday, September 17, 2015 5:46 AM
  • Did you ever get an answer because the one listed below doesn't work.  Where can I find the answer?  Do I change charges to credits and credits to charges?

    What do you show for Account Type  in the account settings?

    What do you show for the Opening Balance in the account settings?

    When you charge something at a store, what column of the register does the amount show in?


    Thursday, September 17, 2015 2:19 PM
    Moderator
  • Credit Account in account settings.

    (1447.78)opening balance - transferred from gnu.

    It shows in the charge column at the present time.

    Friday, September 18, 2015 12:20 AM
  • Credit Account in account settings.

    (1447.78)opening balance - transferred from gnu.

    It shows in the charge column at the present time.


    Change that balance from (1447.78) to 1447.78
    Friday, September 18, 2015 1:39 AM
    Moderator
  • Did the change and it made the balance approx 4 times what it was with the bank.  Changed opening back to (1447.78) and did a reconcil with 1.95 adjust and it now shows 1657.22 with bank balance showing (1657.22).  I guess that's what you meant, right (in your original statement at top)?
    Friday, September 18, 2015 2:31 AM
  •  You probably had made compensation transactions in the past, or maybe did not enter a payment or two into the CC register.

    One alternate strategy is to make the Opening Balance zero in the account settings. Then make one or more compensating transactions, dated as early as possible, make the register match the statements. You could probably download the oldest statement, and concentrate on making the first part of the register match the numbers in the first statement. I would work my way forward, and if I did not want to resolve everything, I might make an adjustment entry for every year. Then once you get current, keep current with more rigor.

    Depending on your credit card (and probably would need to be a US credit card for them to have the right server), you might be able to download credit card transactions via PocketSense. I do that, and I really like it. Getting things going to begin with could be some work as you deal with downloaded transactions being duplicates of the hand-entered transactions. One way to deal with that is to Void any duplicated downloaded transactions. Then new transactions save you work.

    Note that for payments to the credit card company, you probably want to enter that as a Transfer to the checking account. That way the same transaction is in both accounts with the opposite sense. If you want more info on that, I could provide that.


    Friday, September 18, 2015 3:56 AM
    Moderator
  • Thank you very much for your quick responses.  As you stated in your initial post (and I couldn't grasp it, because quicken & gnu) , a positive (black) is a charge (owed) and a negative () is a credit (payment/plus).  Thank you again for understanding what I was saying and what you were saying.  Everything seems positive (pun on me) in my mind now.
    Friday, September 18, 2015 5:32 PM