Handling Partial Refunds on credit cards?

Hi,

I've got into trouble before with how YNAB handles credit cards, so I wanted to run this by the community before I did it.

I purchased an item with my "Fun Money" and paid for it using my credit card. Turns out the seller accidentally charged me double for the shipping.

They've issued a refund back to my credit card. How do I manually log this in YNAB?

Do I add a transaction to my CC account, setting the category for 'Fun Money' and then entering the money as an 'inflow'?

Sorry to ask what is probably such an obvious question, but I'm really not confident with how YNAB manages credit cards...

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  • Turquoise Major said:
    Do I add a transaction to my CC account, setting the category for 'Fun Money' and then entering the money as an 'inflow'?

     Yes.  If the refund comes in the same month as the expense, or the double charge didn't send your Fun Money category into an overspend, that's all you need to do. 

    If your Fun Money ended up being overspent *AND* the refund didn't come in till after the month rollover, things are slightly more complicated.  Every time I try to explain what to do in this situation, I make a mistake; so I'll let someone who uses the standard YNAB credit card handling address that. 

    Reply Like 1
  • Yes, enter as you described.  This should not require any other adjustments unless the credit sends your cc balance positive or if the category was overspent because of this charge in a prior month.

    Reply Like 1
  • Thanks both.

    I was just a bit hesitant as last month I couldn't get my CC activity in YNAB to reconcile correctly with my budget as it was doing something strange with my categories.

    I've put it through and it looks OK, I've also been able to allocate those extra funds out of "Fun Money" to another category, so I believe it's worked as intended.

    Reply Like 2
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