Getting Started Woes

I just set up my budget and linked my funding accounts and everything looks fantastic. My bank does this amazing thing where when I make a payment on one of my credit cards or an external transfer to another savings account, the amount comes off of my available balance and my balance shows that that money is no longer in my checking account, even though it hasn't technically gone through on the other accounts. And that's the balance that YNAB pulled in as my starting balance. Well, I happened to have made one credit card payment and one external transfer right when I started with YNAB. When those transactions actually happened everything is off and my attempts to rectify it are only making it worse- help!!

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  • (specifically, YNAB is deducting the transaction off the total balance for a second time). 

      • Bruce
      • Software Engineer
      • Bruce
      • 2 wk ago
      • 1
      • Reported - view

      Khaki Colt One thing you can do would be to adjust the starting balance to account for those transfers.  Either that or you can just delete the transfer transactions, and pretend they didn't happen, because they happened before your starting balance.

      Perhaps the easiest thing would be just to reconcile the account.  Tell it what the cleared balance should be right now, and it will automatically create a balance adjustment transaction to get you back on track.  Sometimes that's the easiest thing to do when you're just starting out, because it's a one time thing, and if you keep up with your transactions after that, you'll stay on track.

      Like 1
  • Khaki Colt Firstly, welcome! I'll second Bruce that I think using the reconcile feature to adjust the balances on those accounts is the easiest way to go here. Here are the instructions for how to do so! 

    Let us know if you run into snags, though! We'll be happy to help you along 😊

    Like 1
  • One more thing, normally in YNAB, it is a lot better to reconcile your cleared balance in YNAB with the cleared balance at your bank. That is, exclude anything that is pending. It seems your main balance given by your bank includes the pending transactions. If that's the case, it is going to give you headaches. Either find the balance at your bank that doesn't include pending transactions, or make sure you enter every transaction manually at the time you make the purchase so your working balance in YNAB can always match the balance you see at your bank. The first choice is the most desirable because pending transactions can change.

    For example, I had to change credit card so now I have $1 authorisations from several vendors that are pending. But those are never going to be cleared so I don't want them in YNAB, I don't want to reconcile my YNAB balance with those included because this reconciled balance would then change when the authorisations are dropped.

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