No beginning balance entry throwing off TBB

I was reconciling my accounts to make sure balances are correct because it seemed like what was in my accounts was not was available according to YNAB and my credit card balances were also incorrect. The credit card balances I fixed with no problem, but I/m having trouble with one of my checking accounts. 

The balance is way off. Like over $20,000 off.  I went through every single cleared and uncleared transaction to make sure everything was present in YNAB.  It seems the problem is that when I started with YNAB in early September, that account did not start with a beginning balance entry. 

If I tell YNAB to add the entry, it throws my TBB budget way over by like $30,000.  The money was there back in September, but most of it has been spent. 

 

How do fix this?

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  • You need to reconcile the account. Add a starting balance transaction with the amount that was in the account when you started or reconcile to the correct balance as of today

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  • If the money wasn't in YNAB, but spent anyway (and recorded in YNAB), then you must have incurred a ton of overspending. If not, then you managed to live on what was in YNAB, so nice job! Regardless, it doesn't matter. Reconcile the account to today's balance and make an adjustment transaction. Then budget TBB to $0.

    Bottom line: as long as YNAB accounts match those in the real world and there is no red showing in the budget, you have every penny that is shown in the budget.

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  • Hey Turquoise Cello ! Since you've double checked those transactions back to the beginning—a past dated Starting Balance is the way to go. Here are the steps:

    1. In the upper right hand corner of the account, click "Reconcile." When the numbers don't match your bank's current record, click continue, then "Create Adjustment & Finish".
    2. YNAB will enter the newly adjusted balance as a transaction. Click on it and change the date to be the day before your first transaction in that account. (If your first transaction is dated 09/06/20, you'd want to change the date of the balance adjustment to 09/05/20.)
    3. Rename the Payee to "Starting Balance" and save.

    Let us know how it goes!

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