Fresh Start, but no starting balance?

So, I am just getting started here. I created my account about a week or so ago, and added a number of accounts. I then decided with Jan 1 being so close, no point in starting mid December, so I did a fresh start.

I setup my new budget, but the problem now is that my starting balance is gone. Even though I have 1.5 times the amount for my January budget in my account, it is just showing that I am under-budgeted.

 Is there any easy way to resolve this?

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  • OK, I clicked on the main account, and update the "Inflows" transaction (the only thing in there) with an inflow amount that matched what was in my bank account,  Looks normal now, but I am not sure that this is the right way to do this.

    Also, I use credit cards for most of my bills and purchases and pay the full bill the next month, but I would like to ignore the credit card payments, and instead budget the credit card transactions as they happen. YNAB works this way, right? And do I manually just click "ignore" on credit card payment transactions?

    Lastly, I also have a credit card that I gave to my parents that they use sometimes, and then pay me back for. I want to exclude this stuff from my budget on both sides, I can do this with a right click and ignore right?

    Sorry for all the questions.

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    • Hi Silver Dollars !

      When you make a Fresh Start, you have to re-connect your accounts in the new budget. If you're in the web app, click on the Edit icon (to the left of your Account name) and it'll give you the option to connect to your bank. Once you reconnect, your account balance should pull in.

      As for the credit card, you're right - you'll want to budget for your transactions in your categories. So, if you plan on spending $20 on lunch on your credit card, you can budget that $20 towards your Dining Out category. YNAB will then move that $20 from your Dining Out category to your Credit Card category to cover the spending (since it was budgeted for).

      Credit card payments should be entered as transfers (outflows from your checking account and inflows to your CC account). You don't want to ignore the payments because that will throw off your budget and account balances.

      As for the credit card your parents use, ignoring those transactions will cause the account in YNAB not to match your actual account - so it wouldn't be able to help you keep track of the overall balance. Instead, you could treat your parent's spending as a reimbursable.

      How to handle reimbursements is an important topic, so a section of our Help Docs is dedicated to it. 

      Take a look there and let me know if you still have questions!

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    • Faness Hi there!

      Same main issue - Made fresh start and account balances disappeared.

      I'm on the web app- went to edit my high yield checking and there's no option to  "reconnect " my accounts, Am I missing something? 

       

      Thanks for your help!

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    • Purple Disk Sorry for the confusion! It's the edit Icon, to the left of your account name, on the budget page.

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  • Faness at YNAB said:
    As for the credit card, you're right - you'll want to budget for your transactions in your categories. So, if you plan on spending $20 on lunch on your credit card, you can budget that $20 towards your Dining Out category. YNAB will then move that $20 from your Dining Out category to your Credit Card category to cover the spending (since it was budgeted for).

     OK, a little confused here. I want the transaction to be in the dining out category (to me, whether I purchase the meal using a credit card or debit card, I want to consider it dining out). I don't want to have any dollars allocated toward credit cards, that is just the vehicle I use to pay for them.

    On the first question, so far I have not been able to import any transactions as of yet since I did a refresh on Jan 1, but I am not sure anything has cleared yet so that may be normal. Or, as you mentioned, a "reconnect" may be required (if that is the case, should be done automatically when you do a fresh start?).

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      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 1 yr ago
      • 1
      • Reported - view

      Silver Dollars  When you make a purchase on a credit card, YNAB does spend the money out of the spending category.  But at the same time it adds money to the payment category on budgeted purchases.

       

      This is because even though you spent the money, you did it on a credit card. But your budget is based on cash account balances and the money you spent on the credit card is still in your bank account. This behind the scenes transfer keeps the money in your bank account reserved for the eventual payment. The credit card payment category tells you how much you can pay to your credit card based on budgeted purchases.

      Reply Like 1
    • Silver Dollars Nolesrule is absolutely right about the credit cards! To learn more about how credit cards work in the new YNAB, take a look at our Quick Start Guide to Credit Cards and consider taking our Master Credit Cards with your Budget workshop!

      As for the accounts, they don't automatically reconnect after a Fresh Start - you'll need to re-login (and possibly re-enter your security questions if your bank requires them).

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    • Faness at YNAB Faness at YNAB 

      ok I am getting there. This morning a dozen transactions were available. This is good and as I had hoped I could approve them and categorize and all.

      problem is that it pulled in a number of transactions from 12/29 - 12/31. I don’t think these are dated then either.

      ideally I would like to delete or ignore these since were focusing on 1/1/18 and forward expenses. But I am not sure what kind of problems this will cause. For starters my credit card statement open and close mid month, hopefully that is irrelevant to YNAB.

      should I ignore those pre 1/1 transactions that for some reason YNAB is dating 1/2/18?

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    • Silver Dollars looks like YNAB has the correct posting dates. That’s the good news. The bad news is that some of these were actually 12/30 and 12/31 purchases. I know this because these were food and alcohol purchase for a New Year’s Eve party. Since we hosted it wasn’t cheap and these are already blowing out our Jan budget when included :)

      do I just take the hit this month and go over budget in several categories? Or will ignoring them Work?

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    • Silver Dollars it's not just you! We've received a number of reports that banks weren't clearing transactions over the holiday (December 30th, 31st and January 1st), so all of those transactions posted on January second. 😣

      If your Starting Balance is entered for January 1st, you can delete the transactions that imported before then (just double-check that your balance is correct for the 1st through the present). 

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    • Silver Dollars It's been a while, so I'm going to go ahead and mark this as Answered. However, if you still have questions, mention me in your post and I'll get back to you! :)

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  • It seems there is a change since Faness  responded below. First you have to Unlink each account. Then you link it and today's balance will immediately import.

    Reply Like 2
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