Transfers from Checking to Checking on Budget...

I tried to search and read on this topic - but cant seem to get it.

I have two checking accounts on budget - got a big sale into Checking one and wanted to budget $3000 towards an upcoming bill that is drawn from Checking two.

 

I went to the budget and budgeted the category for $3000 and then did the real time transfer with the bank between the two accounts.

 

Is this accurate?

 

Budget seems off

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  • 1. Categorize the sale income as To Be Budgeted

    2. Budget that money to whatever category(ies) you like

    The movement of money between accounts is completely separate from the budget (move as you see fit).

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    • dakinemaui ok but if I add the INCOME to my primary checking account one, then create budget partial amount of that income to another account, wouldn't that be considered an expense leaving the budget and cause the TBB amount to be skewed?

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      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 1 mth ago
      • Reported - view

      Turquoise Hail Only if the other account is not part of your budget.

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    • Turquoise Hail I'm assuming both checking accounts are on-budget in YNAB.

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    • dakinemaui Yes they are- I have the primary one for income coming in from sales and the second account that gets drafted each month an expense payment (which I budget for in YNAB category) - sometimes I need to add more funds to the second account (as a real time transfer) to cover the draft a few times per month.

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      • satcook
      • satcook
      • 1 mth ago
      • Reported - view

      Turquoise Hail The transfer won't have a category so won't affect the budget page.

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    • satcook I know but the category exists under the budget of which I assign the transfer amount to be assigned

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      • satcook
      • satcook
      • 1 mth ago
      • Reported - view

      Turquoise Hail You transfer the money on the accounts page.  Then you budget the money on the budget page

      https://www.youneedabudget.com/the-relationship-between-your-budget-your-accounts-its-complicated/

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    • satcook I know that - I get the process - but it seems to keep my TBB less than I normally would if it did not allocate the category/transfer.

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      • dakinemaui
      • dakinemaui
      • 1 mth ago
      • 2
      • Reported - view

      Turquoise Hail You budget funds to define how much you want to spend on <whatever> REGARDLESS of how you will eventually pay. You should define a purpose for every single one of your dollars, taking TBB to $0. Transferring between two on-budget checking accounts does absolutely nothing in the budget screen.

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  • Hey, Turquoise Hail ! I'd make sure you're entering those transfers correctly. When you enter a transfer in YNAB, you need to specify the destination (or source) of the transfer in the payee field, and you'll know you've done it right when the Category field says Category not needed. Here's more on how to enter a transfer.

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