Coming Soon: Pending Transactions
You may have seen whispers of the Pending Transactions beta floating around… and they’re rolling out soon to a budget near you! Like other releases, we’re using a phased approach.
Pending transactions give you quicker insight on the activity in your accounts linked with Direct Import. If you’re familiar with scheduled transactions, they work similarly.
Not all financial institutions offer support for pending transactions. So, there is a chance you may not see them once the feature rolls into your budget.
Here’s the full scoop! We hope you’ll love them. A few things to note:
A pending transaction will have a clock icon once it’s been entered in your account register.
The pending version imports as uncleared. When the final transaction is posted by your bank, it will import again as cleared—and match, if the amounts are the same.
If you don't see them in your budget, yet—sit tight. Once it's been released to all YNABers, we'll announce it loud and clear! We appreciate your patience.
Hi there! While I like the idea of this, it's not the most helpful for transactions with a tip. The pending transaction will show $4.87, but then when it clears for $6.00, I'm left with a pending transaction that doesn't match anything that syncs. I then have to manually delete that original one. Is there a way we can turn off this feature since it's not important to me and I don't like the manual work of correcting it?
Kha-ai Nguyen-Wilk said:
I just don't like having to edit / delete the pending transaction since when it actually clears the bank, it's base + tip. Not a fan of the extra step / reconciliation.
There are a number of options here! :)
1. You can ignore the pending transaction - it won't be added to your register. You can wait until the cleared version later imports and use your register as normal.
2. You can edit the pending transaction - if you know the correct amount, edit it before accepting the pending transaction. It will be listed in your register as pending and when the cleared transaction imports it will match automatically.
3. You can accept the pending transaction without editing the amount. This is the only option that will require an additional step later. The pending transaction will be listed in your register as pending. When the cleared version imports, you'll select them both to manually match them - which will save the cleared balance over the pending balance.
Number two is the ideal option here, but we know things don't always go as planned! If there's a transaction you're just not sure about, you can either ignore it until it clears on its own or edit it later. :)
I'm one of the users seeing pending transactions, and I really like it. The clock icon is a nice at-a-glance way to see that something is pending, and I've only had one transaction (out of maybe 75) that didn't match up because of a tip, and that was because I accepted the transaction before the tip had been added and didn't update the amount manually before it cleared with the tip.
I deleted the pending transaction that had the wrong amount, and just left the cleared transaction in the register. Since that instance, I've simply added in the tip when the pending transaction shows up without it.
I agree that there are other data points that SHOULD be able to be matched so that if the initial amount doesn't match because of a tip, that the two transactions can be matched up automatically anyway. This would eliminate some of the need for watching these things like a hawk, but would also eliminate the need for watching these things like a hawk, which is what we're supposed to be doing, according to the YNAB method. So... *shrug*
To my knowledge, these transactions don't share the same identifying information on the back-end.
Thank you for that information. It would seem that eliminates the possibility of auto-correct, then.
I finally opened this topic up and read what people are saying about it. I've been seeing pending transactions but I haven't been using them really, just noticing them in there and waiting till they clear.
I know so far in my ~1.5 years of consistently YNABing it's been really helpful for me to just enter my transactions manually as I go, which allows me to find the money right away if I don't have any in the category, or enough in the category. But I'm also trying to find a balance for my long term use of YNAB, so that it is as little work as possible for me with as much benefit as possible for me (minimizing the effort/reward ratio), so it might be worth using pending transactions to not have to enter them manually, at least during most of the month.
The last week of the month I'll probably still enter them manually, since I'm paid monthly at the end of the month and I usually have to move money around quite a bit that last week. Once I finish saving up for a car I'll probably loosen up my budget and that will be less of an issue, but until then, I'm going to try using these pending transactions to save myself some effort. I was having to approve transactions anyways, since I also connect all the accounts I have that will connect, so they catch any errors in entering my transactions, so this skips one step in that process.
Another great thing about this is that my fiance doesn't YNAB, but I will see his grocery spending pretty quickly now, instead of either trying to find the receipt or looking in the pending transactions in the account.
Thanks YNAB programmers! This is a great feature. Maybe I should go find that SaaS thread and say I'll gladly pay annually if they make it so convenient that I no longer even need to enter my transactions most of the time. So check budget before spending, approve and categorize transactions once a day (<5 mins) and budget monthly is all I really need to do now, if all of my spending accounts are on budget and connected to YNAB.
Maybe I should go find that SaaS thread and say I'll gladly pay annually if they make it so convenient that I no longer even need to enter my transactions most of the time.
What about the people that can't get their accounts to link consistently? I feel fortunate that all my accounts link correctly but I did quit on Capital One partially because of that issue. I do feel bad for those people that struggle to connect and I get their frustration.
I also think some people are using mobile app only which has no ability to reconcile. Also the credit card payments on mobile require the person to enter the Transfer:card as payee whereas the web app makes paying credit card payment simple. Until the mobile app is full functionality I think people will have problems.