Assigning Category for CC Payment
I have transferred all my balances to one credit card and I'm paying toward it every month. I want to be able to categorize this in my budget as debt repayment so it shows up on the fancy reports. Is there any way to do this other than moving the other account from budget to tracking? I had to do this with my savings account as well.
Yes, I know the program should be used a different way and this is how the YNAB way is ect.........
Hi Sameer Merchant !
Since it sounds like you're paying down pre-existing debt, you won't see it reflected in the Income v Expense report, but you'll see the difference in your Net Worth report as the balance decreases. I'd recommend checking that out!
Payments to your credit card don't show in the Income v Expense or Spending reports because YNAB tracks your credit spending as it happens.
When you use your credit card to buy groceries, that purchase shows as an expense in the groceries category. If YNAB tracked your payment as an expense, you'd see double the expenses for credit card purchases.