How to split shared expenses to reflect my truely expenses with new YNAB ?
I am using the following (in link) method to enter shared expenses between friends on road trips when using YNAB 4 . I use this method in order to have my true expenses and not expenses of my friends that will pay me back later.
I pay some of the common expenses with a credit card.
But does this method still work in the new YNAB ?
I read the post twice and I think I get what he's trying to accomplish. But there's a problem: transfers FROM a credit card in nYNAB don't automatically put money into the credit card payment category, because there's no place to move it from. In other words, if you enter a transaction on your credit card account that's a $50 transfer to Checking, that won't move any money to your credit card repayment category, because there's no category to move it from. You'd have to then budget manually to the credit card. (I haven't used YNAB 4 and don't know how this works, but I assume it would have to be the same...?)
This seems like a real pain compared to just monitoring how much you owe or are owed on Splitwise, and then making the reimbursement a split transaction.
Hi Slate Blue Vacuum !
Hmm, could you create a "Reimbursements" category (or even, "Shared Expenses with Friends" category) and just split your transactions to reflect what you pay (out of regular categories) and what your friends owe you (out of that "Reimbursements" or"Shared Expenses with Friends" category)? For Reporting, you can just exclude this category.
As for reimbursements though, that's an important topic, so a section of our Help Docs is dedicated to it. Here's a quick summary, and you can follow the link to learn more.
There are two ways you can handle reimbursements in YNAB:
1. Budget for the initial expense, then treat the reimbursement as income.
2. Temporarily overspend, then use the reimbursement to cover it.
Budgeting for all your spending, even if it will eventually be reimbursed, is the best way to handle reimbursements. If that reimbursement is late (or never comes), you're covered.
Temporary overspending is only recommended when the reimbursable expense occurred on a credit card, since money hasn't been immediately removed from your bank. Our Help Docs explain how to handle the reimbursement based on whether you receive it in the same month or a future month.
Does that sound like it will suit your situation? I hope so!