How to handle Credit Card Autopayment Transaction


I'm new to YNAB and just setting up my credit cards. 

I pay off all my credit cards in full every month, however I believe they're set up to just autopay the previous statement balance which happens in the middle of the following month. As a result,  It's never really a 0 balance. With that said, I feel like I have a good understanding of how things work on YNAB. As I make charges, I'll assign them to the categories in my budget and will use inflows to fund all the charges on the corresponding credit cards for that month. 

I was wondering what I'm supposed to do when those autopayment transactions are imported? 

For example, I have 1000 balance on a Costco card, 500 on the statement from last month and I've spent 500 more this month. It's set to autopay so the Costco Card withdraws  500 from my checking account (which is also linked). 

What should I categorize the Autopayment transaction which appears as an inflow and says "This Needs a Category" on the linked Costco card and an Outflow with the same "This Needs a Category" on my checking account from which the money was withdrawn? 

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  • The payee for these transactions should be Transfer to/from Costco and the checking account. This way you won’t be asked for a category. 

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  • Such excellent questions! You'll want to be sure to record that credit card payment using a payment payee. When you do so, three things will happen:

    • The balance in your checking account is reduced by the amount of the payment
    • The balance owed on your credit card is reduced by the amount of the payment
    • The cash is removed from the budget by way of the Payment column of your Credit Card Payment category

    No matter the timing of your statements/payments, if you pay your card in full, you'll want to be sure that the amount in the Payment column of your Credit Card Payment category is equal and opposite the balance owed on the card, like this:
    Since it sounds like you're just getting set up, you'll want to make sure that you've assigned money to your Credit Card Payment category directly to account for the amount of the starting balance on the card. From there, you should be smooth sailing!

  • Alice Blue Projector said:
    I was wondering what I'm supposed to do when those autopayment transactions are imported? 

     Are you manually entering the payment transaction? If so, then you can just match it up when it imports. Otherwise, as others say, change one of them to Transfer to/from Costco card and it will automatically record it in the other account. 

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