Money Still Not Adding Up
So this is a continuation of the same problem I was having before I tried a Fresh Start, so there's obviously something I'm missing that I need to understand.
My checking account currently has $1,954.29 in it, in the bank. My checking account in YNAB only shows $1,842.19. There's no money budgeted in future months. There are no outflows I've entered manually that my bank doesn't know about yet. There are no cash overspends, as I don't have any data from my previous month when making this budget. If I "Set Available amounts to $0.00" I have $1,842.19 to be budgeted.
Where else could that $112.10 be in YNAB? I'm not upset about it because my bank seems to have more actual money than YNAB thinks, but I'm concerned because I don't know why it would be off like this.
I'd really rather not restart again. I hate all the data I lost from the first time I had to Fresh Start. But I'm nervous about doing a Reconcile Account -> Adjustment Transaction and wind up somehow over-budgeting (is that possible?). I don't want to accidentally think I have more money to spend than I actually do, obviously.
Thanks for any help!
Hi Maroon Rain !
Hmm, I'm wondering if that starting balance was incorrect initially? The budget page doesn't come into play when you are reconciling (however making an adjustment transaction will affect your To Be Budgeted, - or +), so the only thing you need to look at is your bank balance in reality vs. your bank balance in YNAB.
The most common discrepancy for new budgets usually centers around the starting balance. All banks tend to show their balance differently (available balance, present balance, cleared balance, etc!), like WordTenor said, so let's start by looking there. A good rule of thumb when entering that starting balance is to look at the closing bank balance on the day before you start YNAB. Then make sure you record and budget for each transaction that clears the bank after that date.
Here are a few more things that could be throwing off your balance in YNAB:
--missing transactions that need to be entered.
--an incorrect starting balance (like I said, if you've never reconciled before, this could be the case!)
--transactions that are cleared at the bank that don't have the green "C" in YNAB (this is often the culprit! bring any uncleared transactions to the top, but clicking the gray 'c' at the top of your transaction register)
--inverted numbers (entering $20.54 instead of $20.45) (look for this in transactions that you may have entered by hand.)
--entering a transaction as outflow instead of an inflow (same as above.)
Let me know what you find! And if you don't find the exact culprit, making a balance adjustment is the best thing in this case — it keeps you focused on making good decisions with your budget and moving forward. From here, the more often you reconcile, the quicker it will be to find any discrepancies!