Transfers between accounts.

My husband and I are always transferring money back and forth within our accounts and to each other. How do I handle transfers on YNAB? Say he transfers me $100 for a savings account. It comes into my checking account and then I transfer it to savings. Do I accept the transfer as income and categorize it as “to be budgeted” or do I just reject it or delete it or what?  

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  • You want to make sure that all of your accounts accurately reflect all transactions and transfers. Otherwise it will be impossible for your accounts to, well, be accurate . And reconcilliation will be impossible.

     

    Are all accounts within the budget? Or are your husbands accounts outside the budget? The answer to that question will determine how best to proceed.

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    • nolesrule all accounts are in the budget. So I accept the transfer as income and categorize it as “to be budgeted” and then expense that same amount to the savings category? 

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      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 2 yrs ago
      • 2
      • Reported - view

      Ivory Sidewinder Money transferred between two accounts in the budget is not categorized, because it's already in your budget. Only money entering and leaving your budget gets a category.

       

      You are just moving it between accounts. If you need to also make changes to your budget, that must be done separately on your budget screen and not through transactions.

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  • What Nolesrules said, because if all accounts are within your YNAB budget, All that would have to happen is TRANSFER;HUSBAND CHECKING/WIFE SAVINGS. No middle step needed. 

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  • Is your husband's account in YOUR budget, or does he have a separate YNAB account? I have two YNAB accounts, one for personal and one for household accounts, so when a transfer comes into my personal account it shows as income to be budgeted.  

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  • Hi Ivory Sidewinder !

    When a transfer is entered as a transfer, it doesn't need a category (so no need to categorize it as Inflow: To Be Budgeted). To mark a transaction as a transfer, change the Payee to "Transfer: [Name of Account]". That'll properly show the money moving from one category to the other without affecting other areas of your budget. :)

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  • Thank you nolesrule  Ruff16965 (05bd62cee897)  Faness at YNAB  I’m sorry I didn’t mark it as answered earlier. I’m new here 😅

    Nolesrule answered my question. For some reason it wouldn’t let me say it was a transfer at the time. I got it now though. 😊

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    • Ivory Sidewinder We all live and learn here and are here to help each other. I still after almost a year come here to ask if I am doing things right or if there is a better/streamlined way.

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  • Hi! If I leave the category blank, how do I clear it from the list of transactions needing approved? Thank you!

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      • mamster
      • mamster
      • 1 yr ago
      • Reported - view

      Lavender Mixer Exactly the same as any other transaction: when it downloads, you'll see a Link icon next to the transfer. Click it and select Approve.

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    • mamster Thanks! For anyone that reads this with this problem in the future: my problem is that the transfer was named “transfer” by my bank. It needed to actually be categorized as a transfer from the account. The confusion came from the fact the bank feed named it “transfer” but it was not yet categorized as a transfer. 

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