New User - Credit card payments question
I set up all my accounts on YNAB yesterday.
So my credit card had an initial balance.
Today I see that as scheduled payment went through to the credit card from checking, so I categorized it as such.
However, now my credit card has a positive balance!!
And YNAB insists that I should budget the amount I paid, which, if I do that, my checking account (or amount to be budgeted) will be off.
So basically, a payment shows up today, and it should already have been accounted for in the opening balance for the credit cards and the checking accounts.
How do I fix this issue?
Sorry if it's not clear. I can write up something with numbers if that helps.
Your credit card starting balance needs to be whatever it was prior to the payment (and any other spending you’ve done in the last 24 hours.)
Your checking account starting balance needs to be whatever it was prior to the payment (and any other spending you’ve done in the last 24 hours).
OR, if the account balances without the payment are accurate for today, just delete this payment and make sure that you are budgeted appropriately for next month’s. You aren’t obligated to keep a transaction in YNAB if it was accounted for in the opening balance just because it downloaded.
The issue that confuses most people is when the payment is reflected in the starting balance of one account but not the other. When you reconcile the accounts as WordTenor mentioned, you'll find out if there's an issue. You can either adjust the starting balance or let YNAB make a reconciliation adjustment; it's the same endpoint.