Bill credit

I recently traded in a phone and T-Mobile gave me an $80 credit to my T-mobile account, not my checking account. I usually pay around $40 per month for my phone and would like to continue budgeting the amount this month when I get my paycheck so I can build a nice buffer in that category for future use. I purchased a new phone in January which taxes were around $82.50 for it. 
I would like to allocate that $80 credit towards my previous taxes on the phone purchase in January for report purposes. I paid this amount with my checking account. However, when I put the $80 credit as a transaction inflow and allocating it to the same category as the taxes, it is adding this money to my checking balance. What should I do? 


Is this credit considered income and be placed as TBB? Or should it just go back to the same category, but then how would I reconcile my checking account, being that the credit was applied to the bill already and not refunded? Or should I just make a note about it and move on with my life?

Thank you

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  • Hello, Gironaso !

    May I ask you to walk me through what it means that they gave you an $80 credit to your T-mobile account? Is this like a gift card that can be used for future T-mobile purchases? Will they be waiving two months of phone payments? Or did you pay cash for the new phone and they knocked $80 off the purchase price?

  • Yes, I paid $82.50 with debit card and they gave me an $80 one time credit on my bill. 

  • I had a similar situation where I did not need to pay a phone bill due to a credit. I did not enter anything into YNAB as there was no place for it. Since there the phone bill was taken care of by the credit, I had no transaction for that month. If you want to build up a buffer, then you continue to budget to the category which will build up while you do not pay. 

    The $82.50 went out of your budget but unless you have your phone account in YNAB, there is nowhere to put the credit.

  • Okay that makes total sense. Thank you for your response!!

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