Q: Why is my “Starting” and “New Balance” negative?
Moss statements are issued per calendar month. Therefore, it is most likely your credit period does not follow the calendar month, and has resulted in a negative balance. For that reason, you can create a custom Moss statement.
Q: I requested a Moss statement following my credit period. But, why is my new balance negative?
There are likely 2 reasons for this negative balance:
The credit card repayment can take several days until Moss receives it
Since our customers have different credit payment dates/terms (daily, weekly, monthly etc.), the new balance can be negative due to the official monthly Moss statement being issued on the last day of the calendar month.
Q: Is it bad to have a negative balance?
Not at all, it simply allows you to reconcile your existing cash flow with our accounting system.
Q: Should I track my credit card invoice payment with the credit statements?
Indeed, this is an existing option in which you could use the Moss statements to reconcile the cash flows in Moss with your accounting system. Although, this is the reason we have created the credit card invoices. It is meant to simplify the workload and allow you to know exactly in real-time what the status is for your credit payments.