Transfers to external accounts - YNAB asking for Categories
Just getting started with YNAB. Coming from an environment of many 'physical' accounts and am consolidating money in the various accounts to a single checking account. Anyway, the transfers from the many accounts into the single checking account are showing up in YNAB, and I don't know what to do with them in that YNAB wants me to categorize them.
If I understand what's happening correctly, you're bringing all of this money from your various accounts into your checking account that is on YNAB, right? Then the category should be To Be Budgeted. From there you will budget the money out to whatever categories it needs to be in. This money is new to your budget and needs to be budgeted.
Is there any reason you didn't just include these accounts in your budget?
They need a category because the accounts are not part of the budget. Money entering or leaving the budget needs a category. Since you are bring them into the budget all at once and are just getting started, categorize to TBB, and then budget the money to your categories.
It's not clear if these other accounts are budget accounts in YNAB. If so, then edit the payees to be real transfers from the relevant accounts. If they're not in YNAB, I'd consider fresh-starting as of the day after all those transactions cleared your checking just for simplicity. Categorizing as TBB is another viable option as others have said.