How to zero out loans I paid off but was tracking

I recently paid off my 2 car loans (woo-hoo!) that I was tracking in YNAB. Meaning, i had them in the tracking section and i had my bank acct linked to those loans too. Now that I paid them off, what do I do with the budget category and what do i do with the tracking items? They still show the balance I owed before I pad them off.

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  • Use the budget category to start saving for your next car.

    If you weren't recording payments then just reconcile the account to $0 and close it.

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  • That's the thing, I was recording payments.

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    • Flame's Edge Congrats on the payoff! If the payments didn't bring the loan (tracking) accounts down to zero over time, that's okay! As long as you know they're paid off, you can still use the reconcile feature in those tracking accounts to adjust the balances on the loans to zero. Then you can close those accounts! 

      As far as the category goes: you can definitely repurpose it for your next car or hide it if you'd rather create a new category for saving up. Let us know how it goes! 

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  • If you were recording payments then the balance of the tracking account should be the same as the real loan so $0. Since you say they aren't the same, you have not recorded all payments. So just reconcile to $0 and close it.

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  • I agree with Ceeses ! Here's how you'll close an account. This will keep the transactions in YNAB and your budget on track (deleting will cause a mess - don't do that!).

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  • thank you all for the help! that worked!😄

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  • 2 mths agoLast active
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