Reconciling for the First Time with some older transactions

Hi there,

Just getting started with YNAB. I understand the basics of reconciliation, but am having trouble with my first time on my checking and credit card accounts.

I think the problem is that I setup everything on the 5th of this Month and then had to enter some old transactions going back to the 1st so my budgets would have the right amounts. So now when I go to reconcile I'm off by quite a bit because my Starting Balance has transactions preceding it.

At least I think that's why YNAB and my bank are off almost $1,000 馃槀

Anyhow, what's the best course of action here? Am I going to have to delete those transactions preceding the starting balance and just be off the rest of the month? I hope not.

thanks for your help,

 

Jonathan

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  • Are you marking transactions cleared and comparing the ynab "cleared balance" to your banks cleared balance?  

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  • Also, are the transactions you describe as preceding the starting balance already reflected in the starting balance?  If so you are double counting them

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    • Herman Right they would have been reflected in the starting balance. I need them in there so my May budget is correct, though.

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      • Herman
      • herman
      • 6 mths ago
      • Reported - view

      Jonathan Longnecker You can't have both.  If you need the transactions, you'll have to adjust the starting balance.

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  • The thing with YNAB is it only looks at what your current situation is right now. Those old transactions/budget items, if they have already happened and cleared the bank, you move on. Trying to backdate information and such isn't what YNAB is about

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    • Turquoise Jackal I understand that - not trying to backdate years of data or anything. Just needed a couple of transactions going back to the beginning of the month since I didn't start the process until the 5th. Otherwise my May budget wouldn't have included those transactions and I don't really want to wait a month until I can see the proper totals for individual budgets.

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    • Vibrant
    • No more counting dollars, we'll be counting stars
    • vibrant
    • 6 mths ago
    • Reported - view

    At this point, the easiest thing to do is probably adjust your starting balance to match what it was on the 1st.

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    • Vibrant Ah, now that makes sense. I'll give that a shot, thanks.

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    • Hi Jonathan Longnecker ! If you want to include those transactions back to March 1st, editing your Starting Balance is the way to go! Here is what that looks like. Change the date, and amount of the inflow to match your bank account balance on the 1st.

      I hope that helps! Let me know if you still have questions. I鈥檓 happy to help!

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    • Nicole  thanks! Editing the starting balance for the checking account worked out perfectly, but the credit card is breaking my brain because of how it鈥檚 running balance seems to be different. Any words of wisdom there?

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    • Hi Jonathan Longnecker !

      You can create a balance adjustment to replace your starting balance and get things on track moving forward. To do that, give these steps a try:

      1. In the upper right hand corner of your account, click "reconcile account." When the numbers don't match your bank's current record click continue, then "Create Adjustment & Finish".
      2. YNAB will enter this newly adjusted balance as a transaction. Click on it and change the date to be the day before your first transaction in that account. (If your first transaction is dated 01/05/19, you'd want to change the date of the balance adjustment to 01/04/19.)
      3. Rename the Payee to "Starting Balance" and click save.
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    • Faness Hahaha well I ended up doing a bunch of math and just edited my starting balance accordingly. But that sounds waaaaay easier. Thanks for the tip, I'll definitely do that next time.

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    • Jonathan Longnecker That works, too! :) As long as things match up with your bank accounts, you're good to go! Hopefully, you won't need that trick in the future, but it's there in case you do!

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