Loans to other people

Hi there,  I am new to YNAB and struggling find out the following, couldnt find anything in the forum/documentation or vids:

What would be the best way to track my loans to other people, such that these are flagged to be repaid to me at some point? 

Is there also an overview of what my relations owe me? 

Example: I lend a friend 100 euro's this month, and I want to make sure my friend pays it back to me in the next month.  Or I paid an work expense in advance and my boss needs to pay it back to me. 

Ideas are much appreciated!

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  • https://docs.youneedabudget.com/article/183-reimbursements

    Tips: Create a category for Work Expenses and Joe's Expenses. ALWAYS use the same category for both outflows AND inflows. This keeps the net spending in reports at $0 (after reimbursement).

    Additionally, the official description of the "Temporary Overspending" is overly complicated. The easy rule: if the category ever turns green, move those funds to the CC Payment category. You don't have to explicitly worry about when the reimbursement is received in relation to the outflow since the color is already dependent upon that.

    I highly recommend the offset / budgeted category for small amounts (e.g., for friends) as it's a little less work not having to manage the CC Payment category. For large work expenses, the temporary overspending works well.

    Like 1
      • dakinemaui
      • dakinemaui
      • 10 mths ago
      • 1
      • Reported - view

      Also note the video incorrectly states to bring the reimbursement in as "income" or Inflow: To Be Budgeted. The text of the article correctly states to use the same category as the outflow.

      Like 1
  • Thanks for the reply! I'll try it out right away! 

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  • The problem I saw just using a job reimburesment category and a "loan out to others" is that the balance is lost when rolling over to a new month. (Today is Feb 1).  Since negative balances don't roll over to the next month. How do I track that I'm waiting for a reimbursement and that it matches what I spent last last month?

    Here is what I'm trying out.  In addition to using categories, I created an asset tracking account called "Loaned Out" to track money I'm owed from my employer for reimbursable expenses or other people. It looks like asset tracking accounts are NOT included in your To Be Budgeted so it doesn't throw off my budget and acts as a handy ledger for money I'm owed and when it was paid.

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      • dakinemaui
      • dakinemaui
      • 10 mths ago
      • Reported - view

      No Waste Another option is to search for the reimbursement category in All Accounts, Select All to get the pending total owed. Typically for work expenses there's an expense report anyway.

      The standard temporary debt approach is sometimes combined with a tracking account as you have done, which gives you the pending total as the account balance. It's a bit of a hassle to enter transactions, though, as the Payee field is occupied by the transfer information, and the payee information has to go in the memo if you want it. I find it a little less work overall to get the total via the above mentioned Search.

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      • Daily Impressions
      • YNABer since Jan 2020
      • daily_impressions
      • 10 mths ago
      • 1
      • Reported - view

      dakinemaui Thanks for the tip!

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