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!
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