I am unable to reconcile a credit card account after confirming that all data is correct.
Other accounts reconciled no problems.
Update: Reversed Opening and Closing balances and resolved issue.
Good morning @Noel - welcome to the community.
Sorry to hear you ran into an issue reconciling your credit card account. I see that you fixed it, but was the issue on our end? If so I’d like to know so I can get our dev team to have a look at it - I’m having difficulty replicating it myself.
Glad you got it solved!
Hello Bane
Thanks for your response.
It may be just a Westpac issue, in that they structure a credit card account differently to other accounts (cheque, debit etc).
Westpac treats the credit card balance as a positive figure reflecting your journey to your credit limit.
Debits(expenses) are added to the opening balance whilst Credits(deposits) are deducted.
This structure avoids declaring that you actually have a negative balance.
Okke treats all accounts as having the same debit account structure.
The opening balance demands a positive number. Debits (expenses) are deducted from the opening balance. Credits (deposits) are added to the opening balance to arrive at a rational closing balance.
(Nevertheless, how does Okke) treat a negative closing balance when you try to reconcile the next month?)
The Westpac credit card account reconciliation is handled by Okke when you reverse the opening and closing balances
ie the Okke opening balance is your credit card closing balance, and the Okke closing balance is your credit card opening balance.
Again, this issue may be unique to Westpac.
Regards
Noel Page
From “Bane - Community Engagement Lead via okke Community” <notifications@okke.discoursemail.com>
To noelpage3@bigpond.com
Date 10/07/2023 11:24:55 AM
Subject [okke Community] [Help and Support] Reconcile credit card account
1 Like
Thanks for the indepth feedback.
I’ve shot it through for the devs to take a look at. We’ll keep you updated of any changes that come out of this!