Credit Card Balance Never Matches
Every month I have an issue with one of my credit card balances never matching up in YNAB. I pay all of my cards in full at the end of each month, there's never a balance left over yet YNAB never can quite capture the correct balance. This past month my balance in YNAB for my main credit card was $315.40 greater than the actual balance due on the the CC. I checked all of my charges against what was recored in YNAB and checked through past months budgets to see if I over budgeted anywhere. I could not find the difference. So I did a reconciliation to get YNAB's balance to the correct balance and recorded a payment. Now the CC in YNAB has a positive balance of 315.40, which is inaccurate. Any ideas on how to correct?
Your bank may be including pending transactions in the balance you give to YNAB.
Also, it's not clear whether you're talking about the YNAB account balance or the payment category Available. (The category should cover the entire account balance for a paid-in-full card.)
Lastly, there is some ambiguity with your phrase, "balance due". The balance due is the statement balance, which is the account balance in the closing date. This will be different than the account balance today if you've since used the card. Are you wanting to pay the statement balance or the account balance as of your payment date?
Sorry for what may seem like unnecessary distinctions. These have been frequently misunderstood by others in the past, and I just want to get you completely sorted.
Bottom line is either the value you provide to YNAB's Reconcile function is off, or the total of cleared transactions is not accurate. It's fine to have to make an adjustment once, but if it's happening thereafter, there's a process issue. Issues I've seen before:
- Pending transactions included in the balance from the bank website. I've also seen banks change the balance shown from the actual cleared to be cleared+pending. So what used to work just fine now doesn't.
- Clearing a transaction that doesn't exactly match. I know, sounds obvious, but it's easy to transpose or not check the final digits as closely. Import (direct or file-based) fixes this problem quite well, and FBI is my go-to option on my primary CC (typically more than 10 transactions to clear).
- Systematically going down YNAB's list looking for matches on the statement / website.
- Clearing everything as a matter of course. There are entire threads about people who want YNAB to change this to the default.
- Not clearing anything.
Hey Spring Green Memory Did you ever make any headway with this? The exact same thing is happening to me. Some pertinent info, for comparison sake:
- We pay our card in full every month—to zero, not statement balance.
- We use direct import in YNAB and don't enter anything manually.
- Our credit card total does include pending transactions but also totals those for us, so we always subtract those before comparing to the YNAB balance (since they aren't showing in YNAB yet).
So for this month, the difference between the CC total minus pending transactions is $130.48 lower than the YNAB total... so that makes me think that there's some kind of extra transaction in YNAB to account for the difference, but there's no transaction matching that amount—and we also don't enter anything manually, so that makes no sense. Would love some help or input! Doing adjustments like this every month doesn't seem like the desired outcome.