End of Month - Reconciliation Recos?

I am wondering what people suggest for an end of the month settlement/reconciliation for their budget.  Right now I have:

1. Cover over expenditures

2. Reconcile checking and savings balance 

It *seems* like you HAVE to do this at the end of the month.  What I noticed is that YNAB will not carry over spending in a budget category into the next month.  (It does carry over budget category surplus).  So, if you don't reconcile at the end of the month, your budget is going to out of whack.

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  • It's not really going out of whack. If the overspent category had any credit card transactions, YNAB will turn it into credit card debt by moving the overage to the credit card payment category. If all the overspending was in a cash based account (cash, checking, savings), it will deduct the overage from the new month's TBB.

      • jenmas
      • jenmas
      • 11 mths ago
      • 2
      • Reported - view

      jenmas I mean yes, you should correct your overspending. Right when it happens. In fact before it happens - you see that you don't have enough in your grocery category to go to the store on the way home, use the move money tool right then and there to add funds to grocery.

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  •  Violet Grizzly  I do the first two items you listed and I also do a third. I deal with any leftover funds at the end of the month. The three options I use are 1. Leave it to roll over. 2. Move it to a specific goal. 3. Move it to TBB. 

    I'm trying to reconcile every week on most accounts so not so much to do at the end of the month. 

  • Hi Violet Grizzly !

    You're right - you should cover any overspending and make sure your accounts have been reconciled before the month rolls over. We recommend reconciling as often as you can, to make sure your accounts are on track.

    If you don't cover the overspending when the month rolls over, cash overspending will be applied to the new month's To be Budgeted balance. If there was credit overspending, the negative amount will show in your credit card debt balance. 

    Here's an article about what happens when the month rolls over. Check it out and let me know if you have any other questions! :)

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