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Received refunds from American Express, now showing negative transaction balance

posusaposusa Member Posts: 1

I received a bunch of refunds from Amex and now my Amex transactions are running a negative total. The original Amex expense is now refunded and shows as a debit, but the balance is a running negative. This is throwing off my balance sheet and p&l. Any ideas what I'm doing wrong or how to fix?

edited July 17, 2019 in Accounting Technical Support

Comments

  • JamieDJamieD Administrator Posts: 1,156 admin

    Hey @posusa. Could you confirm where exactly you are seeing the negative balance for your credit card? If it's from the drop down, the reason you are seeing a negative balance is because it's a liability account (the balance of your credit card). This should have any affects on your Profits and Loss statement either, since the balance is accurate.

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