I set up my personal loan as a CC, best fix?

I'm a YNAB infant 😂 When I first set up my accounts I added a personal loan I have with USAA as a credit card (oops). I thought maybe this would function in the same way but it doesn't. My payments don't really show up like a transaction in that account so as a result my payment is just sitting there uncleared. 

Now that I understand more I realize I should have made this an unlinked tracking account or simply just budgeted for the payment without having a specific account attached. Can this be fixed without messing up my entire budget? 

8replies Oldest first
  • Oldest first
  • Newest first
  • Active threads
  • Popular

  • Hi Jenna ! It's totally okay - I too have created conundrums in my budget, so you're not alone! 😉You're on the right track.  You will want that set that personal loan up as an unlinked tracking account! To “change” that account type, we’ll first need to close the current CC account, and then create a new one. Here’s how:

    1. Create a new account to replace the current one by clicking Add Account > Unlinked (don’t worry—we can link it later!). Choose the Liability type, give it a nickname (it will need to be slightly different than the original account), and enter $0 for the balance.
    2. Go to the original account, and transfer the whole balance to the new account with a new transfer transaction—this should leave the account with a $0 balance. Keep in mind, this may add or remove money from your budget, specifically that credit card payment category!
    3. Now you can close the original account. Hover over that account name to the left of your budget, and click the Edit icon that appears. From the window that opens, choose Close Account.
    4. Now, you can edit the name of the new account - personally, I love adding emojis to things! 😂

    Let me know if that helps or you still have questions!

    Like
      • Jenna
      • JDubbs
      • 9 mths ago
      • Reported - view

      Lauren Thanks for the instructions. I did as you said but now I have new issues

      1. Since I was "transferring" from an account that didn't have any money in it, I now have a giant red number in the credit card payment category of the original account. Do I just ignore that? 

      2. The balance that was on the account is wrong. I transferred it based on what it said the working balance was but the actual balance of the account when I log into my bank app is different. (YNAB says the balance of that account is $19,721.23 but really its $19,905.08). I feel like this is going to be a continuous problem based on the way that account functions. 

      Like
  • So this still isn't fully resolved for me (see my comments above) Can anyone help? Should I just start a new budget?

    Like
      • MadDog
      • Navy_Blue_Pegasus.2
      • 9 mths ago
      • Reported - view

      Jenna If you closed the original account, you should not have a red number. It should disappear. I am a little unclear for the how but it is telling you that you sent money to the account and did not cover it with any budgeted dollars. Which account did not have money in it to transfer?

      Do a bank reconciliation and allow the app to do a reconciliation adjustment for the difference. Unless you want to dig through it all and find the exact transactions that caused imbalance. But, it is normally not worth it. Fix it with the adjustment and move forward. 

      Like
      • Jenna
      • JDubbs
      • 9 mths ago
      • Reported - view

      Navy Blue Pegasus I was taking the advice of Lauren  to create a new unlinked tracking account and to transfer the whole balance to the new account. I did not actually pay off that debt, there were no real dollars involved. 

      The account is now "closed" on YNAB. I'm not sure an account reconciliation would make a difference as that loan just doesn't seem to function in YNAB's system. This is what it looks like in my account. See how the payment never cleared even though I definitely made that payment? I think that is because when I open the account in my bank app it doesn't record my payment or the interest charged as a transaction. Gah, I just wish I had never linked this damn account. 

      Like
      • satcook
      • satcook
      • 9 mths ago
      • 1
      • Reported - view

      Jenna You can reconcile it yourself.  Clear both payments.  Give the transfer a category and you'll be good!

      Like 1
      • MadDog
      • Navy_Blue_Pegasus.2
      • 9 mths ago
      • Reported - view

      Jenna like satcook said, you can do the reconciliation yourself if you have the information that it cleared. But I see you did it with chat so it is good that it was resolved. 

      Like
  • I ended up contacting chat support and they walked me through a different way that honestly made a lot more sense to me. Highly recommend other newbies to contact them if help is needed :) Thanks to everyone that took the time here as well!  

    Like 2
Like Follow
  • Status Answered
  • 9 mths agoLast active
  • 8Replies
  • 114Views
  • 4 Following