Self employed, large project coming up -- how to budget?
Hello! Long-time YNAB user and just love it.
I'm self-employed and have a large project coming up where I'll be given a sum of money to use for the project. What's the best way to account for this in YNAB knowing I don't have a separate checking account for this money? In other words, the sum of money will show up when I reconcile my checking account.
Should I just keep the large sum in a single category to be used for the project (I don't need to budget items for this project in YNAB, but the income will still be reflected in my checking account)? The issue is that this sum will affect my Reports, showing spending and income as the sum grows over time.
Any help is appreciated!
Best practice is separate accounts and separate budget for the business. However, some get by with an integrated budget, i.e., a category group for business expenses.
I'm not sure the issue with reports -- I would think you would want that income to show up. Use a business-specific payee to keep it separate in the reporting.