How to enter a repair bill that will be deducted from rent owing

Yesterday I paid for a furnace repair for $259 that my landlord said to just deduct from my rent due on the 1st that I usually pay the day before (so on the 29th this month).  To complicate things further, I put the repair on my credit card.  How do I post this correctly?   Also confusing me is that I haven't budgeted for rent yet because I will be paid on the 28th and will then budget the income to pay the rent.  I've thought about this and can't figure it out so any suggestions are appreciated!

4replies Oldest first
  • Oldest first
  • Newest first
  • Active threads
  • Popular
  • Here's how I'd do it.

    1. Categorize the furnace repair expense as Rent. Let the category go overspent.

    2. When you get paid on the 28th, budget for your usual rent payment. $259 will immediately move to the Credit Card Payment category, leaving behind the amount you owe your landlord in the Rent category.

    That's all there is to it. (If you'd rather not categorize the repair as "Rent," in case this comes up again and you want to track it, use a different category and then budget $259 to that category and the remainder of your usual rent to Rent on the 28th.)

    Like 3
      • Orange Mask
      • Orange_Mask.5
      • 5 mths ago
      • 1
      • Reported - view

      Matthew  Ok thanks!  categorizing the $259 as rent should do what I want!

      Like 1
    • Matthew I have a pretty similar situation, but with a couple of nuances. Could you help me, please?

      • I paid for a similar repair twice this month, and the first time was before I started using YNAB so that payment is not in the system.
      • I've paid for both repairs with cash, not a credit card.

      What do you think would be the best way to handle such a situation?

      Like
      • dakinemaui
      • dakinemaui
      • 2 mths ago
      • 2
      • Reported - view

      Vadym Borodin Assuming the repair costs $100 and rent $1000...

      1. The first repair just means you only need to eventually budget $900 for rent. The expense is not in YNAB, so no problem.

      2. Categorize the second repair as Rent and budget enough to cover ($100 in this example) or more. Again, you'll need $900 eventually.

      3. I'm not sure when you normally budget for rent and in which area (this or next month's area). Either is fine. Just ADD $800 to whatever is there. (Budget value will be $900 if you used the current month, or $800 if you used next months area.)

      The bottom line is you need an Available amount equal to rent minus the two repairs.

      Like 2
Like Follow
  • 2 mths agoLast active
  • 4Replies
  • 104Views
  • 4 Following