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?
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.
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?).