Transitioning from YNAB4 to nYNAB: Credit Cards (??!?)
I'm finally trying to take the plunge from YNAB4 into nYNAB and have decided to maintain mirroring budgets for couple months to make sure all transitions well (and that I fully get it) before I completely transition to over to nYNAB.
I started by setting up nYNAB with the bank account and budget line status for 10/31 (but not importing the transactions for October), intending to start tracking transactions in November in nYNAB...
In October we did a bunch of home projects (fully budgeted for), but charged to credit card with intention to pay in full. These purchases were budgeted for and fully covered! Now, in November, we have paid off the CC. How do I reflect in nYNAB that these purchases were previously budgeted for and the CC payment should not come out of TBB of this month's income? I feel stumped by this one. Right now, the category shows as red with a daunting exclamation point...but they were budgeted for over the past 6 months of sinking funds!
Try posting your question on the Classic forum so that you don't have to wait for a reply from support. Users there are especially well equipped to help you with the 4 to web transition.
Hi Silver Router. Welcome to the new YNAB! :-)
If you have an outstanding balance on a credit card when you set it up in YNAB, and you plan to pay that in full, you’ll need to budget for it in the Credit Card Payments category. That’s what lets the budget know you plan to take some of the money you have and use it to pay off that existing balance. Here’s a video explaining how this works.
I’m going to mark this as answered, but please feel free to tag me in a reply if I can tie up any more loose ends for you!
Thanks for clarifying your question! nolesrule is spot on. Since the transactions that created that portion of the balance on that card are not part of your new budget, the money to cover those expenses is still part of your To be Budgeted. If you've already assigned them to other categories you can move money from there to your Credit Card Payment category.
Of course, you're welcome to do a fresh start after making that payment, but budgeting directly to the Credit Card Payment category should bring everything in line.
How does that feel?