So I am testing out YNAB for the first time. I have been using ms money for over 21years now. I found YNAB to be the closest to how I am doing my budget. So far I am liking what I am seeing except for one aspect. Future Transactions...
I do our budget for the next month before that month begins. As soon as I get my last check for the month, I plan the next month. This means that I pay all of my bills at the beginning of the month for the entire month. What I don't like is how YNAB views those bills. They fall into the scheduled transactions as opposed to "this just happened". I could just date those bills for today but according to YNAB's website, they only auto match up to 10 days. Some of my bills are at the end of the month so those probably won't auto match when the bill comes in.
I also don't like how the amount spent is not already removed from the budget line item. The transaction will go "through" in X days but the funds should be viewed as "gone" now. When I look at the entire budget, I want to see where that category is at "now" as it pertains to that month. I should not have to go into the inspector page to see what it would be after future transactions are reconciled as it pertains to this month. There is a difference between "Scheduled Repeated Transactions" and "Enter Now/Set Future Date". Once I enter the transaction (aka sever it from the Scheduled Transaction), I would like for it to be accounted for in my budget (regardless of whether it is dated for the future of this month). As long as it is for this month and has been entered in the register, count it against that budget category.
I do my bills via my bank which mails the check. I date my transactions for the dates when the check is slated to be delivered. Those funds should be viewed as spent already.
The discussion above was for changing the behavior of Scheduled Transactions, specifically noted that they were designed wrong. I connected the dots of replacing them with Entered Transactions instead, which was my mistake.
Ah, I must have missed some of the continued discussion. Thanks for the explanation and glad it got cleared up.
If you enter a transaction with Wally World as the payee, but it imports from your bank as Walmart Store #7665, we didn't want that to stop the matching.
Hmm. Those names seem really far off. For that example wouldn't a rename rule be a better solution? The direction YNAB currently chosen has resulted in only wanting 10 days of matching due to fear of false positives. I mean couldn'tYNAB do <10 days with Date/Amount matching and further out adding name as a metric if the first pass didn't match?
If you have a moment, would you mind submitting a Feature Request for that as well? I'm going to keep the idea handy, but it doesn't hurt to share it in more than one place.
Actually I already did a few days back.
Okay.. Apparently my wife knew this name but I didn't lol. oh well. Live and learn.
I just keep thinking of: https://www.tripsavvy.com/the-real-walley-world-3973592
Really interesting read - thanks everyone.
I like these kinds of discussions, because they help me understand (and challenge) my own practices.
I'm not qualified to comment on this situation - I haven't used YNAB long enough, and I'm not as deeply engaged/invested in it as some of you are (not yet, anyhow).
I just wanted to thank all of you for making me think more about how I am managing my money.
So, Cheers all.
So I believe it all boils down to this as YNAB's stance:
Enter in register now, with today's date things that I know are not happening until a future date is "ok" and "reflects reality".
Enter in register now, with a future date that reflects when the money will actually come out is "hiding money from myself", "lying to my budget"