Moving $ out of a Budget to to Great Unknown (Untracked acct)

Hi! I accidentally paid off my credit card from an untracked savings account (I don't want it in YNAB, it's not and will never be tapped for anything, but as it's a Chase savings account, I accidentally paid my Chase CC as I wasn't paying close enough attention to the source of the payoff funds). The transaction is cleared.

The CC line is correct (as it's been paid off). I originally input the payment coming out of checking (which is what it should've done!) but I have since deleted that.

How do I reflect this accurately? I need to take money out of Checking, but don't have a place to categorize it to...

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  • Payments aren’t categorized. Just add a new transaction for it.

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      • Lauren E
      • Powder_Blue_Python
      • 2 mths ago
      • Reported - view

      Superbone Right, but a transaction has to go To somewhere/someone, correct? I get this notification: Uncategorized cash transactions still affect your budget! Assign them to categories or $X will be deducted from the amount you have available to budget next month.

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  • The easiest solution here is to put that savings account on budget. Because guess what, despite your insistence that it won't ever be tapped for anything, it just got tapped for something. 

    If you have difficulty respecting the boundaries of your categories, that's a separate issue and a muscle to build. But if the account is liquid, it belongs in YNAB. And I say this as someone who insisted when I started that I had to have my special account and that putting it in YNAB would a big mistake and spent a long time whining to people that my situation was special. It wasn't. The account belonged on budget, and a year and a half later, I put it there. And because I'm anal, that also involved a year of backward entries so that it had been on budget from the get go. It took several hours to untangle. I strongly recommend against that method.

    Add the savings account with a date before you made the transfer with the cleared balance on that date. Then make the transfer. 

    Reply Like 1
      • Lauren E
      • Powder_Blue_Python
      • 2 mths ago
      • Reported - view

      WordTenor I've seen your commentary on this before. :) I get it, I do...but the fact that you had to spend  the time putting it back (actually, when I read some similar posts and came across your posts I think you mentioned it took forreeeeeeeeever to do it, one day) tells me that you at least use this account. This account has been used exactly ZERO times in the past 5 years and will be used zero times over the next five as it's just a dormant holding tank. This was a careless error on my part. And while it may be easiest to add this to solve this issue, I'm curious on how this *should* work, if I didn't want to.

      (I have several accounts that I won't use - whether you agree or not - and to have just ONE in there will cause me to twitch! This is my greater issue...I can't have one without the other 12, haha [exaggeration])

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      • WordTenor
      • Arranged the menu, the venue, the seating.
      • WordTenor
      • 2 mths ago
      • Reported - view

      Lauren E Correction, it has been used once in the past five years. 

      You can't do what you want to do without creating a category, because if you're flowing money out of the budget, it has to be categorized. So if you truly insist, create a category. 

      But really, what you're looking at is an account which should be on budget. I have zero intention of touching my income replacement category basically ever, forget within five years (at retirement those funds will be reallocated. That's 30 years from now). In fact most of the money in my budget at this point is in "Here's hoping I don't need this" categories. The fact that I won't touch it doesn't mean it doesn't belong on budget. Money that you absolutely don't need should be invested. If you have it in a savings account, it's there because some part of your personal finance brain has decided you need it liquid, and if you need it liquid, then it should be a budget account.

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      • WordTenor
      • Arranged the menu, the venue, the seating.
      • WordTenor
      • 2 mths ago
      • Reported - view

      Lauren E And if you have several such accounts, they all belong in the budget. Probably, they all belong in one account, unless there's some external force preventing them from being one account (CDs maturing at different dates, for instance). 

      You don't have to do what I say. :) Doing what I did will give an excellent, clear learning experience--it's just going to eventually suck, I promise. 

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  • Lauren E

    How did you treat the funds flowing into your budget from this off-budget savings to pay the credit card?  Do a reverse on that one, or delete it altogether, and you've solved your problem.

    And by that I mean: pretend the $ transfer back to savings is the payment to the credit card, one entry.   But it doesn't solve the real problem of funds flowing back in (as income) or out (as expenses) when you keep your savings off-budget.

    Using YNAB with a budget-by-account overlay will inevitably conflict and lead to some issues....sez the girl who used to do online transfers of under $1 (in the first 2 months of YNABing) just to make accounts and categories line up. Oy!

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  • Money coming from outside the budget to pay an on budget credit card should have the payment categorized as Income: To Be Budgeted.

    Reply Like 5
      • dakinemaui
      • dakinemaui
      • 2 mths ago
      • 2
      • Reported - view

      +1.  And confusingly this won't require you to budget this money anywhere.

      Ideally, YNAB whould change the GUI to substitute "Debt Management" wherever TBB is shown in a credit account. That's a far more accurate description of what's going on.

      Reply Like 2
  • Thank you everyone. No more comments needed. I added in my savings accounts and it messed everything up terribly, so I just need to start over.

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      • WordTenor
      • Arranged the menu, the venue, the seating.
      • WordTenor
      • 2 mths ago
      • 1
      • Reported - view

      Lauren E Can we be of assistance in helping you add those accounts? The only one which should be even slightly squirrely is the one which paid the card. 

      Reply Like 1
    • Hi Lauren E ! If you need some help getting those sorted, let me know. 😀 You can enable Support Access for your account, which will allow us to check out your budget. Let me know if you decide to do so—and the name of the budget—and we’ll help you get to the bottom of what’s happening!
       

      Reply Like 1
      • Lauren E
      • Powder_Blue_Python
      • 2 mths ago
      • Reported - view

      WordTenor i went through everything last night and ended up setting everything back to how it was. It might not be "ideal" in that I took this particular savings account off budget now...but everything tics and ties so I'm going to run with it!

      I've added them as Budgeted accounts, rather than transfers, and it might be a bit clunky but it'll work for now. 

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