Having trouble with importing from my bank which have autopay feature enabled.

Hello! This is my first every post here and I am very happy. 

I am using the trial period of YNAB and I'm really happy with it so far. I am going to be subscribing for sure. I have also finished reading the books and have already taken a couple of webinar classes. So far so good. 

So I use this bank named Bunq (which is by the way a really cool bank for the folks in Europe). I can use every feature of the bank through the mobile app which is pretty cool. One of the feature that I'm using in the bank is the autosave feature. What it does is, whenever you make a payment, the difference to the nearest euro is automatically deducted from your main account and transferred to another account. 

To give you an example: I have two accounts in my bunq bank: Salary (main) and Autosave. 

When I make a payment of 33,25 Euros from my main account, 34 Euros is deducted from this account, out of which 33,25 is paid to the merchant and 0,75 is transferred from the main account to the Autosave account. 

Now in my YNAB account I have also created two accounts Salary and Autosave to reflect my bank accounts. 

Now here is my workflow of importing transactions from my bank to YNAB. I do this once a month for now but I want to do this daily. 

I first export the statement from my bank in csv format. Here is how it looks like: 

2019-03-20

-10,00

MAINACCOUNT

 

Friends & Brgrs German

Friends & Brgrs German Hamburg, DE

2019-03-20

-1,00

MAINACCOUNT

AUTOSAVE

NEO1691

 

2019-03-20

-3,30

MAINACCOUNT

 

elbgold Röstkaffee

elbgold Röstkaffee Hamburg, DE

2019-03-20

-0,70

MAINACCOUNT

AUTOSAVE

NEO1691

 

2019-03-20

-4,78

MAINACCOUNT

 

EDEKA Mueller

EDEKA Mueller Hamburg, DE

2019-03-20

-0,22

MAINACCOUNT

AUTOSAVE

NEO1691

 

 

As you can see, it's the transaction from my main account first and then a transaction from my main account to my auto save account as the next row. 

I import all of these in my salary account in YNAB and then transfer all the "MAIN to AUTOSAVE" transactions to my autosave account in YNAB. Then in the autosave account, I flip the outflow to inflow. 

 

Everything works well except the fact the the salary account goes down double then what's its supposed to go and the money in the salary account doesn't match the money in my bank's salary account. 

 

So for example, if I import a transaction of one week and the autosave money was 4.5 Euros, after the import the salary account will be X-4.5 Euros where X is the money in my bank's salary account. 

 

Can someone tell me what I am doing wrong? 

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  • Welcome! The book helped me the most on how YNAB thinks and the videos helped on how YNAB functions. I don't have a clue on the rest of your question, except there are other posts covering it under the phase 'rounding up'. 

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      • Anubhav
      • the software guy
      • neo1691
      • 1 yr ago
      • Reported - view

      Ben Khaki Storm Thank you for your reply. It's fairly complicated what I have written but I will look up `rounding up` in the forums. Thank you very much. 

      Like
      • mamster
      • mamster
      • 1 yr ago
      • Reported - view

      Anubhav The short answer is: turn off the autopay feature. It won't work well with YNAB, and YNAB makes it unnecessary. But you'll find much less curt explanations by searching!

      Like
      • Anubhav
      • the software guy
      • neo1691
      • 1 yr ago
      • Reported - view

      mamster Yes you are right! I already turned it off, normalised my accounts in YNAB and transferred all money from auto save to my savings accounts in my bank apps. 

       

      I have a quick question! 

       

      Can I map goals in YNAB to different bank accounts? Or is that a bad idea too? 

      Like
      • mamster
      • mamster
      • 1 yr ago
      • 2
      • Reported - view

      Anubhav I wouldn't do that either! Give this article a read. Accounts are for keeping your money safe and earning interest; YNAB is for giving the money in your accounts jobs. https://www.youneedabudget.com/the-relationship-between-your-budget-your-accounts-its-complicated/

      Like 2
      • Anubhav
      • the software guy
      • neo1691
      • 1 yr ago
      • Reported - view

      mamster Okay, my bank, bunq allows me to create multiple bank accounts that all can earn interest, however, the less the money the less the interest. I still have lots to learn it seems! Thank you for linking the article. Appreciated! 

      Like
      • mamster
      • mamster
      • 1 yr ago
      • 1
      • Reported - view

      Anubhav Great, so with YNAB you can put more money into a single account, earn more interest, and keep better track of which money is dedicated to which purpose!

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