How to mark cc payment as a transfer not payment

I use my cc for all daily transactions and pay the full amount at the end of the month. I used to be able to state a payment as a transfer from my checking. This worked well because each cc transaction was already accounted for in my budget. Now it is forcing me to list it as a payment and saying I don't have the money budgeted, but I did, it was listed under my budget categories. This is throwing my budget off completely. Why did it change and how do I fix this? 

Thanks,

Autumn

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  • Hi Autumn! Turquoise Horse  For payments to a credit card, it's important to choose the right Payee. It sounds like the payee information from your bank might have changed, so we need to make a quick adjustment to the transaction.

    The payment will be an outflow in your checking account and an inflow in your credit card account. Whether you imported it or entered it yourself, here's how a credit card payment should look. Let me know how it goes!

    Reply Like
    • Nicole  I am having the same issue as Turquoise Horse, but I have been categorizing the payments as payments all along. For some reason, my credit card payment this month is showing as red even though I already budgeting the full amount since we pay off the credit card each month. The money is budgeted, but for some reason it's showing that we overspent on our credit cards. Like Turquoise Horse, we use this credit card for all of our daily transactions, and this has really thrown off our ability to budget accurately. 

      Reply Like 1
    • Powder Blue Rhythm There are a few things that can cause a red credit card payment category.

      The most common, by far, is overspending. Look for yellow negative numbers in November—especially any that might have squeaked through right at the end of the month. Be sure to check hidden categories too, just in case!

      Let me know if you'd like to continue this by email—I'd be happy to take a look at your budget (with your permission, of course!) and let you know what's going on.

      Reply Like
    • Nicole  The Payee is correct. I just read through the payments for credit card, what's happening is the items I paid with the credit card are not moving to the budgeted cc payment area. If I understand, that should happen automatically, is that correct? Here is the example. I used the cc to buy $500 in groceries. When I import the transactions they are categorized as "daily spending: groceries" I go pay the credit card and all of a sudden my credit card payment category shows as red. It shouldn't be, the money was accounted for in my grocery category. 

       It looks like now the grocery category spent with a credit card should move to the credit card payment category? To be clear, I did not go over in my grocery category either. Hopefully that all makes sense. 

      It was all very clear when the money was easily just transferred from my checking account to the cc and not treated like a payment. 

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      • dakinemaui
      • dakinemaui
      • 10 days ago
      • Reported - view

      Turquoise Horse Automatic movement to the CC Payment category only happens when the spending category has Available funds. I know you said you weren't over in Groceries, but I wonder if the issue was in a previous month where you were over?

      Outside of that, it could be that money is actually moving, but there still isn't enough to support the payment you sent. The second major cause of a red CC Payment category is forgetting to reserve funds for purchases made BEFORE starting to use YNAB. YNAB doesn't assume you will pay off any of that initial balance, so if you want to do so, you'll have to explicitly budget to the Payment category.

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    • dakinemaui Thanks for response. The spending categories do have available funds, but I see what you're saying about previous months. I now see that all of my previous months were updated to show as a payment and not a transfer, like they previously were.  So my budget is completely off. I hate that they have taken out the option to mark it as a transfer and not a budgeted payment. It's one of many items I liked in the old format, along with being able to see multiple months on the same screen. I guess I need to find a new program, this one isn't working for me anymore. 

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      • dakinemaui
      • dakinemaui
      • 10 days ago
      • 3
      • Reported - view

      Turquoise Horse They just display "Payment: <whatever account>" instead of "Transfer: <whatever account>". It's still a transfer under the hood.

      Reply Like 3
    • Turquoise Horse Yes, whenever you make a purchase with a credit card, money you budgeted for that purchase will move to your credit card payments category.

      If that Credit Card Payment category is red, that means you've sent more money than you had budgeted. I see overspending and the starting balance have both been mentioned above.

      When you go to your credit card register, find the Starting Balance. Is that amount in your Budgeted column for November (or starting month)? If not, dollars weren't reserved in your budget to pay off the original balance.

      If you pay the card in full, you'll want to make sure that your Credit Card Payment category Payment column matches the balance owed on the card:
       

      Reply Like
    • Turquoise Horse Credit cards do work differently in the current version of YNAB and we're happy to explain what's going on there! If you'd like us to look closer at your budget, and look closer—you can enable Support Access, and let us know if you prefer to continue here, or via email.

      Reply Like 1
  • No it's not the same, because it's now listed under a "Payment" category in the budget as a negative.  When it was a transfer, it didn't put that in a category.  If I transfer from my checking to savings, there is no category because you're just moving money from one account to another.  It used to do the same thing for  credit card accounts and now it is not.  

    Reply Like 1
      • dakinemaui
      • dakinemaui
      • 9 days ago
      • 2
      • Reported - view

      Turquoise Horse The CC account is very different from a savings account, which is why it has a category. Your CC payment is effectively a categorized transfer (even though you don't explicitly specify anything in the "Category" field).

      When you say, "it used to to do the same thing for CCs", are you talking about the previous product (YNAB4)? Because the current web product has always used a Payment category. This was added because people using YNAB4 kept sending more than they should without realizing it. This resulted in categories not being backed by cash.

      This is exactly what YNAB is trying to tell you by turning the Payment category red. You have paid down debt with dollars that are earmarked for other purposes in the budget. You've double-booked those funds.

      It's not that YNAB "isn't working" -- it just has more warnings than YNAB4 did.

      Reply Like 2
      • satcook
      • satcook
      • 9 days ago
      • Reported - view

      Turquoise Horse are you having to enter a category in you credit card payments??

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  • Hmm.... this sounds like what JUST happened to me the other day. For some reason the payment that I made to my credit card did not get deducted from the credit card where the money was actually available.

    This is when I really wish that there was an undo button that would allow you to go back several steps to watch what happened in the budget. Frequently I enter lists of transactions all at once before going back to my budget screen, and when I find that something is wrong when I get there I can't tell which transaction it was that messed it up.

    Reply Like
    • Turquoise Horse When you make a payment to a credit card in the new YNAB, the amount of the payment will be subtracted from your Credit Card Payment category. That category exists only to hold money in your budget that has the job of making your next credit card payment. When you pay your bill, money is leaving your budget, and that's the category by which it departs.

      farfromtheusual Would you like me to take a look at this? I'd be happy to follow up via email and take a look at your budget. Most of the time, if a credit card payment didn't have the effect you expected, the issue can be found in the Payee field: either it's not set up as a transfer (you haven't chosen one of the To/From Account Payees at the top of the list) or the payment is pointing to or from the wrong account.

      Reply Like
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