Tracking payments from accounts outside of YNAB

Hello,

I have a budgeting situation and I'm looking for some guidance.

 

I have multiple accounts in YNAB, including checking, savings, PayPal, and credit cards. Occasionally, transactions are made by accounts entirely external to YNAB. For instance, in the past, my PayPal account was linked to an old checking account, which I never bothered to put in YNAB because the card is now defunct. Whereas I usually transfer funds from my main checking to PayPal whenever that debit card is used as the underlying source, I'm not sure how to proceed when this defunct account was used. Here's another example. I share a credit card with a family member. I have made most of the payments on the card, but she has also made one or two payments. I can easily track my payments by transferring money from my checking account to the credit card account--but how should I account for hers?

 

Right now, my solution has been to create a new "External Account" which basically serves as a placeholder for all transfers from (and occasionally deposits into) these outside accounts. Whenever a payment is made to the credit card, or PayPal from any outside source, I create a transfer from the "External Account" to the appropriate destination. Is this the best approach?

 

Thanks!

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  • Inflow the money caterized as Inflow: TBB  to your budget account that receives it.

    In the case of the paypal account, you can then budget the money however you want.

    In the case of a CC, you now have a lower balance on the card, so if the amount of money in the payment category is more than the balance of the card, you can move the excess elsewhere.

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  • Thanks for the reply! How would you suggest handling money leaving my budget to an external account?

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      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 13 days ago
      • Reported - view

      Orange Vacuum First, Why do you have money moving into an account that's not part of your budget?

      It's leaving your budget, so it means your budget will have less money in it, so you'll need to categorize it.

      You could just outflow it as TBB, and then your TBB will go negative, so you'll need to remove money from your categories.

      Or you could budget money to a category and then outflow from that category.

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      • dakinemaui
      • dakinemaui
      • 13 days ago
      • Reported - view

      Orange Vacuum Treat it like any bill or expense. Reserve money (i.e., budget) in a category for the outflow amount and record the transaction categorized to whatever category. 

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      • dakinemaui
      • dakinemaui
      • 13 days ago
      • 1
      • Reported - view

      Orange Vacuum As a heads up, if this external account is a savings account, it should be on-budget. Something like an investment or retirement account, OTOH, is fine (preferable) to leave out of YNAB.

      Reply Like 1
  • And maybe the simplest would be to take the time to update Paypal to use your current accounts and cards.

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