I’m just not getting the setting up of the credit card account, and have ended up with a snag this year and can’t reconcile the account.
I set up the account in my list of accounts as shown here.
But when the account was paid in total and at one time was ‘overpaid’ so the credit card was in ‘credit’, it seems to have lost the plot.
The credit card has a limit of $5,000 so I thought if I put in the Credit Limit spot $5,000 it may sort it out but… now this shows
That I have $5,000 available credit which I don’t I have $1099.81 available credit.
I just not getting what I have to do, to show this correctly for the future? Should I set up a new account from 1.7.2017 or would this mess me up more?
You need to provide more details with regards to “it seems to have lost the plot”.
Putting in the Credit Limit doesn’t have any affect on transactions.
Not sure why this is not showing correctly. Try editing the credit card and remove the credit limit and update. That should remove the available credit column. Then re-edit and put the credit limit back in and see if that corrects the calculation.
You haven’t shown quite enough information to tell what your problem is. Your account definition screen shot shows no credit limit. But the line from your Cash Accounts screen shows the $5,000. Can you show a screen shot of the edit screen for the Credit Card Account as it currently stands?
As for changing the start date, you should not do that. That will cause the program to ignore all transactions except Accounts recievalbe/payble prior to that date.
Also, what version of the program are you using? If I recall correctly, there was a time when credit limits were strictly informational.
I removed the $5,000 then put it back and it’s showing the same.
I’m going through a loop again to try and explain what’s happening, and between the bank swapping to Visa from Mastercard and so I have two sources of data. I will see if I can screen dump something that makes sense.
You should be having two separate credit card accounts then and when the MasterCard is completely finished with, mark it as 'Inactive" so it doesn’t list anymore under cash accounts.
Also under About Manager which version are you on ?
Okay so I’ll go back and remove all the data until the bank did the swap and make it inactive and start again with the Visa. Or maybe just make this inactive as it’s all there bar a week and 30th is tomorrow?
First, update your software. None of us is able to answer questions about obsolete versions. When we test situations, we are using very recent, if not the latest, versions.
As for changing accounts because the bank changed cards, that may not be necessary. I recently went through an identical swap from MC to VISA. My account was just named Business credit card. In my case, the bank handled all the details and it was transparent to me. But even if I had swapped cards myself, I would just have stopped using one card, started using the other, and by the end of a month, the statement would be reconciled and everything. At worst, you may have difficulty producing a reconciliation report for one month.
I am virtually certain your issue is the age of your software. As I said in an earlier post, I’m fairly certain the credit limit started out as a non-functional, information-only feature. In fact, until you brought it up, I didn’t even know the program made the available credit calculation. But current versions do.
Okay the upgrade fixed the amount available issue. I’ll go through all the entries again to see if I can get it to reconcile. Thank you both for all your help.
