How do I track the payoff without messing up the monthly budget? paid off mortgage

I took $$ from investments (places where I had losses and wouldn't run up my tax bill) to pay off the mortgage.  My budget only has the monthly expense & I do have a tracking account.

Now there's a HUGE inflow from my investment account and a HUGE mortgage payment.  It's going to make my monthly expenses look wacko.    

Also do I just delete the tracking account now that my mortgage is ZERO!!! Whoop whoop.

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  • It doesn’t “mess up” the monthly budget. It accurately reflects reality. 

    Like 3
  • Close the tracking account. Do NOT delete it.

    Like 4
  • Congratulations!

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      • Marsha
      • Getting ready to retire
      • ratz
      • 1 yr ago
      • Reported - view

      Superbone How do I close the tracking account so it shows $0.  I put the deposit from my investments into checking account.

       

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      • Marsha
      • Getting ready to retire
      • ratz
      • 1 yr ago
      • Reported - view

      Marsha Here's what it looked like going thru my checking account.

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      • Marsha
      • Getting ready to retire
      • ratz
      • 1 yr ago
      • Reported - view

      Marsha I guess my problem is that I think it flowed thru YNAB OK.  But the tracking account still shows the mortgage before I paid it off. $33,438.18.  It was a little higher because my payoff was less than the amortization schedule.

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    • Marsha 

      Marsha said:
      I put the deposit from my investments into checking account.

       Based on that screenshot, you deposited the funds from the brokerage account to the checking account (so far, so good!), but then you entered the $33,505.80 Mortgage pay off as just a payment. It needs to be entered as a transfer - from Checking to the Mortgage account.

      Click on the "Rls Debit Fdes Nnf" payee and change it to the option that looks like "Transfer: [Mortgage Account]". 

      Here's a quick link to our Help Doc on Entering A Transfer.

      That should get everything back in line.

      P.S. Congratulations on paying off your mortgage! :)

      Like 2
  • You need to add the payoff transfer to your mortgage account. The transfer from checking to mortgage that brings your mortgage balance to $0. Add the transfer of $33,505.80 from checking to mortgage. Similar to your transfer from brokerage to checking. Then you can close the $0 balance mortgage account. Voila! And once again, congratulations!

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      • Marsha
      • Getting ready to retire
      • ratz
      • 1 yr ago
      • Reported - view

      Superbone I did that, but now the checking account is whacko.

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      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 1 yr ago
      • Reported - view

      Marsha Well, I can't see the amounts since they're covered up by the reconcile dialog but if your 12/19/2019 payment to Rls Debit Fdes Nnf is the payoff payment to your mortgage, it should be a transfer and look something like "Transfer: Rls Debit Fdes Nnf" or whatever the name of the mortgage account is. The fact that your checking account has a -$33,477.27 balance means you most likely have two $33,505.80 (or so) payments in YNAB instead of the one transfer.

      Once you change it to a transfer, this transaction will appear in both accounts. -$33,505.80 in checking and +$33,505.80 in your mortgage account.

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      • Marsha
      • Getting ready to retire
      • ratz
      • 1 yr ago
      • Reported - view

      Superbone I'm really trying....but I can't get transfer to mortgage to appear in the Payees option.  It will only let me choose Payment.  Sheesh.

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    • Marsha If you're in the checking register, and the payee says either transfer: mortgage account or payment: mortgage account, pick that. Then delete the other outgoing transaction from checking. 

      Sometimes the payee will even say To/From: mortgage. 

      If it becomes a transfer, there will be two, opposite facing, horizontal arrows in the transaction line that will take to to the register of the other account. Then you know it's correct. 

      Like 1
      • Superbone
      • YNAB convert since 2008
      • Superbone
      • 1 yr ago
      • Reported - view

      Marsha Check out the link Faness included above. They are at the top of the drop down list.

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  • Marsha said:
    I'm really trying....but I can't get transfer to mortgage to appear in the Payees option.  It will only let me choose Payment.  Sheesh.

    If you're still struggling with this, support can help you get it straightened out. Ping them via the app ? in the lower right. In your My Account settings, there's an option to give YNAB support access to your budget to help you get it right.

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  • I got it solved.  I did end up asking Support for extra help.  I had it all done except for one thing...and that was throwing everything off.  Now that is all set and I'm back on track.  Meaning that every account is reconciled & I'm on budget.  The peace has been restored!  MAny thanks.

    Like 2
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