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Credit Card Account Differences

NoobieNoobie Member Posts: 3

Hello,

I'm new to Wave so I apologize in advance if this is a silly question but I notice that there is a difference between how Wave reports transactions on two of my credit card accounts.

The first card is through my bank which is luckily one of the institutions that has the connection so everything could be imported onto this platform.

The second card doesn't have the connection so I had to manually download all of my credit card statements as .ofx as mentioned in one of the FAQs.

In my first credit card account, everything makes sense to me (ie. items that I purchased show up in black and payments are in green). However, the second credit card account shows the opposite with all of my purchases in green while my payments in black. I'm not sure if this is because one account was able to be automatically imported and the other one manually but how can I correct this so that my second credit card account will post transactions like the first?

Regards,

in Accounting Technical Support

Comments

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @Noobie , welcome to Wave! In our Community no question is a silly question.

    Are you able to check your CHart of Accounts to see where these Credit Card accounts have been set up? Both should be located in Liabilities & Credit Cards under the Credit Card tab.

    Let me know if this is the case or not!

  • FlopsyFlopsy Member Posts: 8

    @AlexL I have the exact same question. My CC with the inverse entries is located in Liabilities under the credit card tab.
    Can you help please?

  • FlopsyFlopsy Member Posts: 8

    Hi @AlexL any chance of replying these inverse entries?
    What I purchased with the CC shows green when I uploaded a csv, and what I pay to the CC shows black!
    The CC is under the liabilities tab.

    thanks!

  • BarsinBarsin Member, Moderator Posts: 2,041 ✭✭✭

    Hey there @Flopsy

    Sounds to me like your debits and credits are being reversed based on your CSV upload. This is an issue that we've noticed in the past which involves having to reformat your CSV download. Every CSV download from an institution is different and therefore may require reformatting in order for our universal transaction uploader.

    If you haven't checked out our help center article on troubleshooting your csv upload I'd give this a read. The simpler the layout, the better.

  • FlopsyFlopsy Member Posts: 8

    mmm I've uploaded CSV's from the same bank but for another account and they are all correct.
    And the article link does not refer to inverted transactions. Just uploading errors.

    I think it's because Credit card work on balances being in the positive- as in the money shows as credit- which is nuts but that is the CC concept!

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