Reconciling transfer payments

I'm 99% sure this is somewhere on the forum, but here goes:

My car loan shows up as -$300 from my bank account, but also appears as +$300 in the "auto loan" budget category I've created. How do I categorize these transactions? I'm so confused about how I make sure they don't cancel each other out. Help!

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  • A loan payment is no different than any other expense.

    Enter the transaction in your bank account with an outflow of $300 and the "Auto Loan" category. This will subtract the $300 that you've budgeted to the Auto Loan category.

    If you have your auto loan in YNAB as a tracking account, the transaction will be a transfer, but it still needs to be categorized, because it's money leaving your budget.

    Reply Like
      • Mirloyno
      • Coral_Sound.3
      • 5 mths ago
      • Reported - view

      mamster Thank you for this answer! Another question: what about when I pay my credit card every month? Same sort of thing, except the app is asking me for a category, and my credit card and bank account are accounts, not categories. How do I do this, or is it better to simply reject the transaction? If it helps, I completely pay off all cc balances each month. 

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      • HappyDance
      • YNABing consistently since 2014
      • HappyDance
      • 5 mths ago
      • 1
      • Reported - view

      Mirloyno 

      For transfers between account and credit card, if you are using the bank sync, you'll have to revise the entry to transfer: <name of account>.

      It would be better if you manually entered the cc transfers because it would create the entries in both accounts, and then the bank sync would match the entries when the transfer posts in both accounts.

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