Used ApplePay and need help with YNAB entry
My brother sends me money to give to my mom. He sends $500. I forgot to transfer it to my checking BEFORE using ApplePay so I ended up paying for something that cost $165.00 and I have no idea how to track it in YNAB.
So now I have a $165.00 entry that makes no sense. I can’t put money towards it? Usually the $500 cancels out and I stash it in “stuff I forgot to budget for” because it’s a pass thru. I don’t think I can track the $165.00 now. Any ideas?
Oh I can split the cost on the -500 maybe? Even though I did send $500 to my mom. It would seem like I only sent her $335.00 but then I can track my real expense since what I send to her is normally just canceled out and should effectively be $0. That’s the best I got.
Pink Boa Hmmm! We want YNAB to reflect reality, so if that $165 expenditure happened in an off-budget account, my best recommendation would be to leave it off-budget. Here's what that would look like:
- Enter the $335 inflow as it happened - this will leave you with a $165 deficit in your "Stuff I Forget to Budget For" category. Then: move $165 from the category you would have used for the $165 expenditure to your SIFTBF category to cover the underfunding.
Does that sound like it could work? Let us know how it's going!
It sounds like your ApplePay account is on budget and the thing that gets you confused is the relationship between accounts and categories. Money is fungible. The money is any given category in your budget does not reside in any particular account. I think you should read this: https://docs.youneedabudget.com/article/1679-why-doesnt-my-category-balance-match-my-account-balance
Because your problem is absolutely not a problem. You enter the $500 inflow in your ApplePay account categorised to SIFTBF. Then you enter and categorise the $165 expense to whatever category you want from the ApplePay account. Now when you go to transfer the $500 to your mum, you can't do it from the ApplePay account as you don't have enough there, but you have the money in another account. So just use that other account to transfer the money and categorise to SIFTBF. If it needs to come from the ApplePay account, transfer the money from another account to ApplePay first and then transfer to your mum. Whatever, all that matters is you have $500 in a single account and you can make a transfer to your mum from that account.
$500 is $500 whether it comes from account A or account B. Then keep the $335 in ApplePay account or move it to another account if it's more convenient for you to access the money from another account. Whatever is more convenient for you (it doesn't matter for YNAB).