Quicken Deluxe 2005
In a line of credit account of type "credit", I have a negative balance (let's say $500). When I reconcile, quicken compares my $500 balance to the -$500 my bank shows I have and $1000 difference between the actual and the recorded balance.
It even shows it as negative in the register, though.
Any thoughts?
--steve
From Quicken's point of view, a positive balance in a line of credit account means you owe the bank money. A negative balance means the bank owes you money. Is this the case?
I suspect you consider the balance negative because it's a liability, and in accounting tradition, liabilities are negative. But that's not the case with Quicken.When you owe money on your line of credit, it's a positive number to Quicken.
That may be the case.
It did not appear to be that way in 2002. I imported this account from
2002.Any suggestions on how to change it? I don't enter the information; I download it from my bank, so I don't think that I can change negatives to positives.
Sorry, I have no suggestions. I don't ever reconcile to the bank's balance. I reconcile to the statement. So I get to enter the balance owing, which I enter as a positive number.
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