Credit Card download

[The Doc]

As a 30 year long computer user, I'm nonetheless a bit frustrated by some Accounting Conventions:

Downloading QIF files into current account works OK, but when doing the same into my credit account - all the entries go in as credits not debits... last month I edited each entry separately because I couldn't find a way of doing them all with one click of a button as it were.   

So, I had  a long 'talk' with my Bank this morning and they repeatedly said that this is the way the download has been set up, and that it is correct, and that they have had no adverse comments about this before.... Seems strange, but their remarks went something like, 'Because this is a credit account, all the transactions are logged as credits increasing the amount you owe'.   Setting up the account with a negative starting balance instead of a positive one might help, but I would still have a screwed up vision of my net worth

Despite quite forceful remonstrations along the lines of, ' but I've spent the money, not received it', the operator seemed reluctant to take the matter further.

Has   anyone else met this download problem?


The Doc 

Modified by George, with a view to broadcasting the message to all Bank Genie Users.
Many thanks for posting this Tony.
Using the Bank Genie program Inline Banking Transactions-BS412, Bank Genie handles QIF files downloaded from Tonys' current account OK (as it does mine).
Its strange that one Credit Card account does it differently - where Debits are shown as Credits, and vice versa. I asked Tony to post it here to see if anyone else has a similar experience (Weve been discussing this by email).

[Bruce]

I was lucky enough to have been coached by George in downloading nearly 20 years transactions from Quicken to BankGenie, and all the debits and credit balances transferred correctly.
When you spend money using your Debit card, the charge shows as a credit on the Current A/c, and reduces the balance of money in that account, shown as a debit balance. However, when a Credit card is used, again the purchase shows as a debit on the Overhead account (e.g.Petrol), but this bill is borne by the credit Card company, until you send the money in settlement. So their account, in your books shows as a credit balance, until you write a cheque to settle it. Your cheque is a record of you paying for goods or services, i.e. a debit, while the Credit card company's credit balance is reduced by your payment.
I don't know if that answers the difficulty, but I think it might, hopefully!

[ideasguy]

Thanks for that Bruce - its good to have an accountant on the forum!
RE:

However, when a Credit card is used, again the purchase shows as a debit on the Overhead account

Yes, and that's how we need it to show up in Bank Genie, created by the file downloaded through BS412 (not the BS419 program in this instance)

Its the form of the QIF file that is causing this problem.
Ive programmed it to handle what I thought was a standard QIF file format.
As explained in Tony's posting, the QIF file from his Credit Card company is different from all others Ive encountered - i.e. reversed.
The question is, has anyone else seen this in their downloads.

Heres a screenshot of what I expect imported Debits and Credits to look as "normal".
Do your Debits and Credits look as shown below when using BS412?

[Bruce]

I am looking at screen No.BS421SO1, where the down-load of a Credit card from a QIF file shows  purchases as Debits, on the Credit Card account. When I made a payment to the Credit Card company, it shows as a Credit, with the category marked as "Broken Transfer". (Unlike your illustration, there are separate columns for Debits and Credits - maybe mine is a different edition of Bank Genie?)
As there is only one column headed "Paid to", the name of my current Account is listed against the Credit.
I'm not sure if this is what you are querying.

[ideasguy]

RE:

I am looking at screen No.BS421SO1...
Unlike your illustration, there are separate columns for Debits and Credits - maybe mine is a different edition of Bank Genie?

That is a different program Bruce, hence the difference in columns etc.
We are discussing program Online Banking Transactions-BS412 here.
After importing using BS412, you can view the transactions in BS421.

I am looking at screen No.BS421SO1, where the down-load of a Credit card from a QIF file shows  purchases as Debits, on the Credit Card account.

and after importing from BS412, thats exactly what we expect in Manage Transactions - BS421 (the program screen you have described).
In contrast, Tony has reported that a QIF file from one of his accounts is reversed and those from other accounts is correct. I'm trying to establish if anyone else has experienced this reversed file format.

[Bruce]

I seem to have got "the wrong end of the stick" - George.
I haven't used the Barclay Input, the subject under discussion, and graciously retreat..........

[ideasguy]

Dont do that Bruce
You helped clear up a possible ambiguity

[ideasguy]

Ive now made a program update to the program Online Banking Transactions-BS412.
Screen BS412S02 (where transactions are staged prior to Processing) now features a shiny new Reverse button. Right click on the button for Help.

Get the downloads here:
http://www.bankgenie.net/support/Updates/updates.html

Two downloads are required:
1) BS412 (Version 15 or higher)
2) Fileset (bottom of page - Make sure you read the instructions on how to download and install the Fileset)

[The Doc]

Dear George

Wunnerful!

Your download toggle works a treat.   I suppose that's why the program's name is something to do with Genius


The Doc

[ideasguy]

Thank you Tony Hadn't thought of that connection  (ahemmm).

Did you manage to download and install the Fileset into the Core?
Its a bit of a tricky one, as the Core database is in a "hidden" folder.

Here's a test for all users to verify if you have installed the fileset correctly.
a) The Help Balloon (when you mouse over the  new button) should give a message
b) Right click on the Reverse button, click Text Help - you should see Help text on the feature
c) Right click on the Reverse button, click User Guide - your browser should open and display the Help text on the feature in the User Guide (added today)
http://www.bankgenie.net/UserGuide/412/412S02/412s02.html#Reverse