Getting cash back from retailer
Two weeks in and flip flopping from excited to overwhelmed:). Still struggling with credit cards but that’s a different topic.....my question is how do I handle a trip to Kroger where I buy groceries and take out cash (similar to an ATM withdrawal) in the same transaction receipt? In reading it seems I should transfer from my checking account to my cash account but unsure how to “split” the transaction appropriately.
This was exactly my problem. Every time we go to Kroger I get $100 cash back for spending. The above worked great but I thought it only worked on the web version. I couldn't figure out how to do this in the iOS app. I finally got it. When recording a transaction it has you "Select Category" and then you hit split. Then you have to click "Category" where it shows you Split 1. By this time I had seen Category so many times I automatically clicked Category again when I should have clicked "Payee", but in my mind the payee was Kroger. Once I hit Payee I finally could see that I could select the account to transfer it too. Thanks to the above contributors. This saved my bacon!
This cashback process in the mobile app is extraordinarily frustrating. One has to do:
- new transaction
- enter payee
- click split
- select first category, say groceries
- enter that split amount
- click add another split
- enter a DUMMY category, perhaps groceries again
- Click that dummy category, change the Payee,
- Click done
- click done again
- click save transaction
There's no way this is going to work for us. I recall this being much easier in the old YNAB. Can you please add a big [CASH BACK] button on the main 'Add Transaction' screen?
Since this thread has been brought back to life, I'll mention that it doesn't talk about the impact of CC transfers on the budget. The elephant in the room is that TBB increases when you transfer from a credit account to a cash account. (This is because the budget funds always equal your cash, which just increased, so it's gotta show up somewhere.)
Typically, I'm just looking to use the cash-back as an ATM. Effectively, I make a withdrawal from my checking account that isn't posted for about 4 weeks. (That's when I pay off that additional debt.) Therefore, I'll immediately budget those seemingly new TBB funds back to the CC Payment category.
OTOH, if you don't have immediate plans to pay off that CC debt/withdrawal, then you should budget those funds in TBB toward whatever you want to buy. This is essentially credit-based overspending without using a CC for that purchase or getting a warning. You should only do this in exceptional circumstances.