Realized YNAB CC balance is incorrect, what happens when you reconcile?
Our CCs are on auto-import so honestly I don't pay a lot of attention to seeing if the balances match. After my most recent payment earlier this week, I realized that YNAB CC balance is ~$200 less than what my CC (Chase) website says. I've done some reading and realize you should reconcile accounts often (even if they auto-import) which I had not been doing so I can't say for certain how long the balances have been off. I did look at the past 2 months of transactions and everything seemed to line up so wondering if it's been off for awhile and I just haven't noticed.
Anyways - it seems like the easy/lazy way out is just to reconcile the account with the correct balance per the bank website so that it's accurate moving forward. I did that, and everything was still magically green. So, my question is, what happened to that $200 discrepancy? Where is it pulling that money from to cover that CC balance? Hopefully I'm wording this correctly. Thanks!!
Your credit card debt increased by ~$200. Your budget is comprised of money from cash-based accounts, so changing the balance of a credit card account will not change the money in your budget (unless the account goes positive).
If you are a Pay In Full CC user you will need to budget to pay off the increased debt.
I am a pay in full CC user. I thought when I reconciled it (adding ~$200), it would push my "credit card payment" or something in the red. I'll be honest, I feel like I am a "surface user" of YNAB, but just trying to figure out how/where that discrepancy will fit into my budget. I'm not even sure that makes sense... just trying to avoid having it cause a domino effect of issues by just reconciling to the correct balance.
Hmm, okay. I guess I need to do some more reading on this as it doesn't totally make sense to me as to why the 2 wouldn't align if they're supposed to. We have our cards on auto-import and just categorize transactions as they come in. All of our CCs are on auto-payment and haven't had an issue where the CC payment lines have turned red/orange. Like I said, definitely a "surface level" user so clearly need to do some more reading!