Automated transfer between checking and savings after import
Question about transfers between the account. I have a checking account and savings account in my budget on YNAB and I import my checking account bank statement and reconcile every month or so. Problem is with the transfer between these 2 accounts once the bank statement is imported into YNAB.
As shown on the picture above I have multiple "Keep the Change" balance transfers happening between checking to savings and sometimes a few transactions that happen in the reverse direction. Currently I have edit the Payee in each of these transactions to 'Transfer: Savings Account' to transfer them while leaving the category blank. As you can see that is very time consuming.
Seems like there should be a much easier and more intuitive way of doing this all together. is there? I have automated changing the Payee names of multiple other transactions to what I want the same way - but unfortunately can't do that with Transfer as it is a reserved key word.
Please share what is the best way to get this automated.
Thanks in advance,
When you import, the system cannot tell the difference between a transaction and a transfer. The absolute easiest thing to do is to get rid of the save the change program because if you are using YNAB with both accounts on budget, you aren't "saving" anything as every penny already had a job. If you want to move funds from your checking account to your savings account in order to gain interest, just do it all in one chunk rather than bits and bobs here and there.
When importing the data, YNAB4 can automatically convert these transactions into Transfers for you.
- Open Payee Settings.
- Select "Transfer : Savings Account" from the Payee list.
- Add a Rename rule to this Payee: "Starts with KEEP THE CHANGE".
Next time you import the data, any payees starting with KEEP THE CHANGE will be automatically converted into "Transfer : Savings Account" transactions for you.