Basically what you have done is 100% correct
What you need to do is find the difference and make the adjustment.
What was the closing balance of the original card?
Is that the same as the opening balance of the new card?
Your journal would have completely cleared the balance of you old credit card and moved it to the new one.
So firstly check your balance sheet
Is the old credit card $0
Check the old credit card statement to make sure that you match their opening balance for the new card
If you have to change the opening balance for the new card then I suggest that there are transactions on the old card that were not processed.
If that is the case fix these in tjhe old card and adjust the balances in your original journal
All should be good then
hope this is helpful
Lisa
For anyone else who has the same credit card replacement and bankfeeds issue that we had.
This is the way that we solved this issue to get our bankfeeds and chart of accounts with the correct balances.
We needed to make a "transfer money" journal entry to move the credit card balance from the old credit card account to the new credit card account. Having an opening balance for the new card account didn't work as we needed to move the balance from the old to the new card.
We could then went into the "reconcile accounts" function and reconciled this extra transaction for both credit card accounts.
Now when we go into bankfeeds, the outstanding balances are now correct. And looking at the total credit card debt in the chart of accounts is also correct.
