Stuck on Stupid with Credit Card : Working Balance Vs. Payment

Sorry to bother the community again, the learning curve is a bit steeper than I expected (at least it is for me), and I need some help.

  1. I created my AMEX card account on Jan 1st, with the exact balanced (posted charges only), showing then.
  2. I've input every transaction since Jan 1st through today, Jan 12th, and all have posted.
  3. The balancing showing in YNAB for these transactions, -2,011.897 matches *exactly* what my AmeX online statement shows.  Takes into account all charges and returns, in both ledgers.

So why is the payment field showing as 1,658.71?

I've searched the forums, and watch the video course, and so far no answer.

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  • YNAB doesn't assume you will pay off the initial balance. (The $1658 is from budgeted purchases after starting YNAB.) You'll need to budget $353 directly to the CC Payment category to get to paid-in-full status (category Available or "Payment" covering the entire account balance).

  • Thanks, that did it!

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  • I would also recommend reconciling your account.  

  • I would also recommend clearing transactions that have cleared at your bank. At least the starting balance transaction should be cleared and possibly others since then have cleared. To clear a transaction, click the "c" icon at the right end side of a transaction line.

      • Ceeses
      • Ceeses
      • 8 mths ago
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      Just to add, it is good to reconcile your account often (weekly or so). You do this with the Reconcile Account button at the top right of the Account page. But Reconcile will only consider cleared transactions. Hence the importance to clear in sync with your bank. 

      Reconciling is important because that's your way to tell the software: I have checked with my bank and everything cleared in YNAB corresponds to what the bank is showing me. Doing it often means if one day there is a discrepancy between YNAB and your bank balance, there are fewer transactions to check: you don't need to check the reconciled transactions, they have already been checked.

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