Credit Card Account
Kerissa
Member Posts: 6
My credit card account shows my balance as a positive and not a negative. Meaning the amount we owe on the card is showing as a positive balance in wave. So it looks like I have overpaid or something. How do I change this? What do I need to do for it to be accurate?
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Comments
It could be accurate, for example if you had a zero balance and then got a refund for something, the credit card would owe you money. So the liability account (the credit card in wave) would be in your favor.
@Kerissa +1 to what @ayam stated. Since it's a liability account, it will show a positive balance for the amount that's owed to the credit card (think one negative and a positive make a negative.. if that makes sense). It's showing the balance of what you owe based on the liability that's owed. This help centre article should provide more insight as well; https://support.waveapps.com/hc/en-us/articles/208622086-Everything-looks-backwards-A-debits-credits-overview
@JamieD thank you