Reconciliation

I've been using YNAB for just over a year now but hadn't been reconciling - didn't understand what that little 'c' at the right meant. I should also say that I enter everything manually. I could see that my figures for actual account balances and the YNAB figures were out of whack so I went to reconcile last night and have made a bit of a mess! The cleared balance is now correct but the uncleared one is far from it. Is there any way to choose 'clear all transactions'?

My other option I suppose is to start over, but I don't want to lose my budgeting records as I may be retiring later this year and my income will drop significantly - I want to hold on to those figures to help me to be strategic with money into the future.

All suggestions welcome.

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  • If your cleared balance is correct, does that mean you had YNAB enter an adjustment transaction??

    Like 1
    • satcook Thanks for replying and yes, I had YNAB enter an adjustment transaction. But the uncleared amount is now totally skewed

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      • satcook
      • satcook
      • 1 yr ago
      • 1
      • Reported - view

      Orange Hammerhead Before letting YNAB enter the adjustment, did you clear the items in YNAB that had also cleared at your bank?

      Like 1
    • satcook Yes, I did what I could - but I couldn't manually go back to and clear them from the v start, hence the adjustment

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  • Orange Hammerhead said:
    Is there any way to choose 'clear all transactions'?

     Select all, then Clear. However, I would uncheck (before clearing) any recent transactions you've manually entered that you know haven't shown up at the bank. Optionally, delete any adjustment transaction you just made. Then do another Reconciliation / adjustment transaction.

    Like 1
    • dakinemaui Many thanks for replying and for your suggestion - I will have to wait until tomorrow before I can do that.

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  • It could end up being a ton of work, but if you are sure it's the transactions in the account that are the problem, not the category balances, here is what I would do:

    1. Export your budget (option in the drop down menu gives you a zip file with a CSV for all transactions and one for the budget.

    2. Extract the transactions CSV and save as xlsx (or favorite spreadsheet format)

    3. Sort by account & pull all the items for the problem account into a new tab, along with headers. If multiple accounts are a problem, it might be worth doing this for all accounts.

    4. Sort the account tab by date in the order that matches your bank statements.

    5. Get all the bank statements for the time period covered by the account. For each month, highlight the transactions on the spreadsheet that match the statement. Figure out the total of those transactions. If that matches the statement, move on to the next month. If transactions are missing,  check if they are there in a  different month. They may need to be added to YNAB.

    Keep going until it matches.

    Like 1
    • adriana01 Thanks for that detailed list - as you say I would need to put aside a ton of time to carry this out, but it might be worth it?

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      • adriana01
      • adriana01
      • 1 yr ago
      • Reported - view

      Orange Hammerhead probably! Constantly having to fix it with balance adjustments would be frustrating and might never become correct. If you do that, I would expect you would ultimately need to delete any balance adjustment transactions you already made because at least one transaction would be added or changed, but you will be able to figure that out if you are going over the account so closely.

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  • Hi Orange Hammerhead !

    Since you mentioned that you haven't reconciled before, it’s best (or quickest) to enter a reconciliation balance adjustment and move on. Going forward, the more often you reconcile, the easier it’ll get! Once you’re in the habit, you’ll knock it out in a few minutes (or less!).

    In the left column of your account register, there is a checkbox to Select All. In the Edit menu, you'll see the option to Mark as Cleared. I'll include a screenshot of those steps below! As dakinemaui mentioned, make sure to uncheck any transactions that haven't cleared your bank.

    If a Fresh Start  is something you're still considering, it will save a copy of your current budget. Check out that HelpDoc for more details! You will be able to view that historical data in a separate, archived budget any time you'd like.

    Let me know if you have any other questions!

     

    Like 1
    • Nicole at YNAB thank you, that seems a lot less work for me! I'm reluctant to make a Fresh Start but I will check out the HelpDoc as you suggested before making a decision. I will take a good look at all of this tomorrow and then take action. Right now it's late here and I feel I don't have the mental capacity needed to concentrate on it. Thanks again!

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    • Nicole at YNAB Hi Nicole, I'm working on this but still in a bit of a muddle. I've cleared everything and reconciled my Current Account and when I have that open on screen the numbers at the top are exactly right - Cleared Balance (matches bank balance) + zero uncleared balance = working balance. All correct. BUT when I go into Budget there's a red deficit in To Be Budgeted!! I've entered my end of month income into the c/a and marked it cleared (it's in my account, right) and now I want to give each Euro a job for the month of March. But it's reading a red minus figure to be budgeted at the top. Where have I gone wrong? Hope you can guide me - it's probably something v simple that I've missed ;-/

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      • jenmas
      • jenmas
      • 1 yr ago
      • 3
      • Reported - view

      Orange Hammerhead yes a reconciliation adjustment either adds or takes money from your TBB. By adjusting your account balances, you are adjusting the amount of money in your budget. 

      Like 3
    • jenmas I'm just getting more and more confused here, I seem to be going round in circles no matter what I try - maybe a fresh start is my best option for now and consider it a learning curve!

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      • adriana01
      • adriana01
      • 1 yr ago
      • 1
      • Reported - view

      Orange Hammerhead A fresh start is one option (sometimes it is easier), but if you want to fix this here are some things to look at:

      when you reconciled your account, did you add any transactions for Feb? The red TBB happens because you have overspending or overbudgeting somewhere--I would check last month & this month (including hidden categories) and move money around until all overspending is taken care of. Another possibility is that you have overbudgeted (put more money in caregories than you actually have). If you have anything budgeted to a future month, I would zero out what was budgeted in those months and then come back & fix March (check Feb too for overbudgeting).

      Like 1
    • Orange Hammerhead If you're up for it, we can try taking a look at things! :)

      You can enable Support Access for your account, which will allow us to view your budget. Once you’ve done that, let me know—and mention whether you’d like to continue the discussion here or via email instead.

      Like 1
    • Faness Thanks for offering to take a look but I went with a Fresh Start, reluctantly. Now my difficulty is that my phone app is not showing the new Fresh Start - how can I synch them? I expected it would happen automatically?

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      • nolesrule
      • YNAB4 Evangelist
      • nolesrule
      • 1 yr ago
      • 2
      • Reported - view

      Orange Hammerhead A fresh start is a new budget "file". You probably just need to switch budgets in the app.

      Like 2
    • Orange Hammerhead I believe Nolesrule is right. When you access a budget on the mobile app for the first time, you have to download it. To do so, tap on the settings icon then tap on Open Budget. It'll give you the option to load the new budget. :)

      Like 1
    • Faness Thank you, that worked! I think I'm in business 😄

      Like 2
  • Thanks to everyone who helped me out with this along the way.

    I now have made a Fresh Start and I have  a query about my current account - I've always manually entered my spending into the App, into the appropriate category. But if I use my debit card, for example in the supermarket, and I spend let's say €50 on groceries but also get €100 cashback (not sure what this is called in the States). I enter €50 into the supermarket category, out of my current account, but what do I do with the €100 cash, how do I enter it?

    For simplicity let's say I use this cash on my next two visits to the supermarket - €50 each time. In YNAB I enter the spend in the supermarket category and show it coming from my current account? But there is something off somewhere isn't there?

    Has anyone yet written the Dummies Guide to YNAB?? Thanks in advance...

    Like
      • adriana01
      • adriana01
      • 1 yr ago
      • 3
      • Reported - view

      Orange Hammerhead I have a Cash account, and when I get cash I enter a split transaction, with one part the main grocery purchase and the second a transfer to my Cash account. When I set up the split, I go into the second category and  select Transfer: Cash as the Payee (which removes the Category).

      Then when I use the cash I enter it as a transaction from my Cash account.

      Like 3
      • bevocat
      • Sometimes, It Just Sucks to Be You
      • bevocat
      • 1 yr ago
      • 1
      • Reported - view

      Orange Hammerhead You need a new type of account on-budget: a cash account. Some people call it "Wallet" or whatever you like. When you get 100 cash back, you would enter a split transaction on your debit, 50 to groceries and 100 as a transfer to the cash account. Next time you use that cash at the grocery store, you enter a transaction in the cash account for 50 and categorize it to groceries.  Any time you get cash, you show it as a transfer to your cash account. Every time you spend cash, it's a transaction in your cash account. This way you don't get to fritter the cash away! 😉

      Be careful about the transaction getting the cash though. I think there's a bug in the mobile app (assuming that's what you're using) that makes it difficult to enter this kind of transaction. I'll see if I can find a topic discussing it.

      https://support.youneedabudget.com/r/q5dgjn

      Like 1
      • adriana01
      • adriana01
      • 1 yr ago
      • Reported - view

      bevocat Orange Hammerhead I can't remember what changed, but currently you have to select a category first, then select the category to change the Payee to Transfer: Cash (which removes the category). It's a little weird at first but easy enough once you know where to look. 

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      • bevocat
      • Sometimes, It Just Sucks to Be You
      • bevocat
      • 1 yr ago
      • 2
      • Reported - view

      adriana01 I spent an embarrassing amount of time at Christmas in the grocery store parking lot trying to figure this out, but I refused to get on the road until I got it. Not that I have OCD tendencies or anything...

      Like 2
      • Khaki Storm
      • YNAB book topics online: https://support.youneedabudget.com/r/q5w48j
      • Khaki_Storm.1
      • 1 yr ago
      • 1
      • Reported - view

      Orange Hammerhead there's not dummies guide, but one user wrote this: https://support.youneedabudget.com/t/x1rjc3/the-quick-sort-of-and-dirty-guide-to-ynab

      Like 1
      • bevocat
      • Sometimes, It Just Sucks to Be You
      • bevocat
      • 1 yr ago
      • 1
      • Reported - view

      Ben Khaki Storm That link points back here.

      Here it is.

      Like 1
    • bevocat 😄

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    • bevocat thank you - that looks so helpful!

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      • Khaki Storm
      • YNAB book topics online: https://support.youneedabudget.com/r/q5w48j
      • Khaki_Storm.1
      • 1 yr ago
      • Reported - view

      bevocat strange, thanks for giving the correct link

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    • adriana01 bevocat We're still working on addressing the transfer issue. We've made some progress but I still can't say for certain when this will be streamlined.

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    • Orange Hammerhead A read through the Users Guide May be useful as well. 

      Like
  • Ok, I've emptied out my purse, counted up all the loose change - €6.59 total, opened a 'Cash' account, entered this, then budgeted the €6.59 into a category. So, if I go to the ATM later, take out some cash I enter it into this new 'Cash' account? I may even understand this!!

    Like 3
      • adriana01
      • adriana01
      • 1 yr ago
      • Reported - view

      Orange Hammerhead yes, that would be a transfer from one account to the other 😀

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    • Orange Hammerhead Many users simplify by recording cash transactions rounded up to the next bill. That way they don't have to worry about losing/tracking change. Later on they may convert their big jar of change that has accumulated to bills and bring them back into the budget as TBB.

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