Starting CC balance, scheduled payment, budget items already paid for month

Hi, just getting started. I've watched a number of videos and read several articles about getting started and what that means with CCs. Getting started in the tail-end of the month makes this tricky and I'm not sure how to move forward. As an added complexity I had just scheduled a payment from my checking account to pay off the current balance plus pending expenses on the card. 

It pulled in the existing balance (sans the pending transactions). I have a couple questions about this. Even though the transfer from my checking account to CC is scheduled for today it won't show up in either account for days. Do I manually add the transaction (transfer) today and assume the auto import will correctly identify it or manually fix when it does? And if so, how do I reconcile what will appear to be an over-payment to the CC until those additional transactions appear as cleared?

I'm assuming that I should not budget for expenses I've already paid for this month even though I'd like to carry the budget over to next month? I can't actually budget those items because I can't show that they were paid (with the CC that shows up as a lump sum). 

 

Do people usually enter transactions manually prior to them clearing in checking/CCs so they can see actual balances in the budget on a daily basis? If I have to wait until it can auto-import it could be days before it's reflected but I also don't want to have to always remove duplicates either.

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  • Yes, you should manually input the transfer so that it will match up correctly as a transfer upon import when it happens.

    You do not need to budget for previous spending. However you do need to make sure you budget money to the credit card payment category for previous spending that you intend to pay off, because that money is not otherwise reserved to make your credit card payment.

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  • Thank you for the reply.

    For the budgeting for the CC - it automatically budgeted the amount/balance in existence when it connected. But it doesn't account for the pending transactions I've already scheduled to pay. Do I manually update the budget? When I add the payment for the full amount I wind up with an overage on the credit card account. Maybe it will reconcile automatically when the other transactions clear.

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      • nolesrule
      • Been waiting 5 years for the Stealing From the Future fix...
      • nolesrule
      • 2 yrs ago
      • Reported - view

      Juno Yes, any spending  transactions not in YNAB that come after the starting balance will turn into real transactions in YNAB, and you will need to budget for them.

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      • WordTenor
      • Can we agree that goals are dumb and immature? Sure.
      • WordTenor
      • 2 yrs ago
      • Reported - view

      Juno I might be fuzzy on what the CC onboarding looks like these days but are you certain it automatically budgeted for the amount on the card? It certainly did not do that before. If the cards category in the budget is turning red when you make the payment, the money was not in fact budgeted to pay the card. 

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      • Juno
      • Gold_Griffin.1
      • 2 yrs ago
      • Reported - view

      WordTenor So when it connected to the account it automatically budgeted for the current balance, let's say $1000 (all of these values will be fake and rounded for convenience). There are $400 in pending charges so my liability is actually $1400. The transactions adding up to the $400 additional are not imported by YNAB. I guess because they are pending (which makes sense). But, before I signed up and started setting up YNAB I had already setup a payment for $1400. Since that payment won't show up for a couple of days I created a transfer from my checking account to the CC for the amount of $1400. So in the budget view, it says I have $1000 "budgeted" for the CC. The "activity" shows -$1400. The "available" shows -$400 (in red). And down under "all accounts" for the CC it shows +$400 in green.

      Needless to say this is very awkward. To make it more complicated is that the transactions that make up the $400 are already budgeted for a savings goal. So, assume I have an additional savings goal adding up to $1000. I know I already spent $400 towards it so I budget the $400 towards the goal as well. When the transactions show up for the CC for the $400 I will categorize them for the goal. I think it will have zero'd out because it treats the CC overage as additional money to be budgeted. Otherwise it will simply show back up to be budgeted later. Does that make sense?

      On that topic I wish that you could spend saved money for a goal and have the goal target value reflected automatically instead of acting like I now need to add that money again. I'd love to see the original target, how much is left and how much I've saved/spent towards it. Maybe a new feature?

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      • nolesrule
      • Been waiting 5 years for the Stealing From the Future fix...
      • nolesrule
      • 2 yrs ago
      • Reported - view

      Juno Sounds to me like you've got it right. Seems like they've updated the unboarding process for credit cards. When you $400 in transactions appear and categorized, as long as you've got at least $400 in those categories, it'll be spent out of the category and added to your credit card payment available.

      You could manually input those pending transactions now, and when they post YNAB will download and match them. But by entering them in now, you can see what will happen with the credit card payment category.

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