How to handle transactions from last month that clear this month.

Good morning,  So every month I have any where from 5 to 20 transactions that occur on the last few days of the previous month but don't clear or import till the following month. I know the eases solution is to input them in my YNAB when they happen, but with two kids and my wife and me both using the accounts that is not going to be possible. Now on the last day of the month I go into YNAB and reset all balances to 0, this puts the unspent money back into the To be assigned, for when I wake up on the first and re assigned it to the new month.  BUT then things import over the next few days and kind of screw everything up just enough to make things frustrating.  Any suggestion's?

Thanks

Tim 

8replies Oldest first
  • Oldest first
  • Newest first
  • Active threads
  • Popular
  • Three options I can think of:

    1) You could try not zeroing out categories and letting the money roll over. You'll still have to go in and adjust funding once you're sure all the previous month's expenses are in, but you wouldn't have to flip between months as long as there was no overspending.

    2) You could adjust the date on those transactions to the first of the month.

    3) You could just adjust the current month's budget once those transactions have cleared and ignore the previous month, because YNAB will automatically remove the funds from RTA if it was cash and not move funds to the credit card so you fall behind in payment amount for the overspent categories in the previous month.

    Like
    • nolesrule
    • Stealing From the Future fix is an improvement but is incomplete....
    • nolesrule
    • 3 mths ago
    • 2
    • Reported - view

    input the transactions before you reset the balances to zero. make it part of your end of month / genning of month routine.

    Like 2
      • nolesrule
      • Stealing From the Future fix is an improvement but is incomplete....
      • nolesrule
      • 3 mths ago
      • Reported - view

      end of month / beginning of month

      Like
  • I like to have things match reality so I am not a fan of adjusting dates on transactions. If I ever need to go find it for something, I can end up searching for things in the wrong month. It is frustrating. (personal preference)

    Entering transactions on the go with the app is the best thing for me I have found. Even if the amount is not completely right, I at least have something there to remind me to check on it. Another thing I will do is to enter a scheduled transaction when I make an appointment which will cost me money and either input the known amount (fixed costs such as chiropractor) or an estimate (hairdresser). Then, when the appointment occurs I only have to approve it and not enter. 

    Another option is to check your online statements at the end of the month. They could show the pending transactions and you could enter them before you reset the available balances to account for them.

    A third option is to not do the reset on the previous month until a week after the month is over. So, rather than resetting on the first, do the reset of available on the seventh of the month. If you need the money in the current month, it is there as a rolled over amount. 

    Like
  • Yeah I've found this to be a frustration too because this would make a previous month underfunded which gives you a false sense of security in the current month because you believe you are fully-funded. I hope the YNAB teams thinks of a creative solution for this, but in the meantime, for the first couple of days of each month, I flip back to previous months and make sure the right panel shows "Fully Funded". If it doesn't, I fund those categories and then cover the negative funding balance with my "Buffer" or "Next Month's Budget" account since I am currently 1-month ahead.

    Like
  • It seems you've already ruled out the only solution.

    Like 2
  • Why are you resetting all balances to zero? I could understand that approach for things like groceries but it seems pointless for true expenses.

    Like
    • nolesrule
    • Stealing From the Future fix is an improvement but is incomplete....
    • nolesrule
    • 1 mth ago
    • Reported - view
    tgpratt said:
    Now on the last day of the month I go into YNAB and reset all balances to 0, this puts the unspent money back into the To be assigned, for when I wake up on the first and re assigned it to the new month.

     Before you do that, manually add the missing transactions. Since your problem only happens at the end of the month, it's essentially a once a month thing rather than an everyday thing. All pending transactions should appear at the bank anyway. Make it part of your end of month routine.

    My end of month personal finance routine generally takes about 1-2 hours. It's time well-spent.

    Like
Like Follow
  • 1 mth agoLast active
  • 8Replies
  • 123Views
  • 7 Following