When I enter a charge made on my credit card into KMyMoney, it reduces the balance shown on the card and payments (such as when the bill is paid from my checking account) increase the balance. This is BACKWARDS. If the balance is $546 and I make a charge of $10, the new balance should be $556; it shows up as $536. Reproducible: Always Steps to Reproduce: 1. Enter an opening balance for a credit card 2. Enter a Charge 3. See the balance shrink Actual Results: The balance on the card get smaller when I enter charges on that card in KMyMoney. Expected Results: The balance on the card should get LARGER when charges are entered against that account.
If you didn't set the initial balance to $0, I think you should have set it negative, not positive. When you make a charge, the balance gets more negative. It's not always immediately intuitive. Try making a payment - the balance will go towards more positive. If the balance is negative, payments drive it towards zero, where you don't owe any more.
Many thanks for your comment. The opening balance is a negative number, entered as the opening balance as of the first of the year. All charges move the balance closer to zero, while payments made move further negative - just the opposite of what it should be doing.
This is my layman's view, not an accountant's. As we're dealing with a credit card account, what it is showing is how much you owe. So a positive amount is your debt, and conversely, a negative amount shows you're in credit. What I'd like to be clear on is, when you say "...[my] balance is $546 ", is that showing as $546 or -$546? If it shows $546, then that is your debt and making a further charge of $10 will increase that to $556. On the other hand, if it is showing -$546, then you are in credit and the charge of $10 will decrease that to -$536. When you entered your opening balance, if you entered a positive amount then that will show as a payment and the balance will be negative ie. you are in credit. If you are an accountant, then I apologise for insulting you, and I'll retire.
Did you set the credit card account up as a liability account? Sounds like you may have it set up as an asset account.
Ya'll are very helpful! Many thanks. The account IS a liability. When I entered an opening balance, carrying over the debt from 2014, it acts as a payment - creating a negative balance. I am unable to get this to behave like a charge.
OK - it's fixed! I played with putting a minus sign before the opening balance and not doing so. The negative never showed up on that transaction so I didn't think it was being considered. But it was. Leaving that symbol OFF the balance transfer put in the Charge column. All is well now. Thank you!
(In reply to Manfred from comment #6) > OK - it's fixed! […] All is well now.