Remove Bogus Debt
Long story short I got myself into a little debt in YNAB classic and I rolled my debt without issues because I could. In order to move to nYNAB I created a new account which I named Consolidated Debt with a (-$4000) balance. This some how allowed me to budget that bogus $4000 into my budget so everything would be green. I have since put $4000 into a line item and am trying to remove that bogus debt but I can't figure it out. To be honest I have tried to recreate adding bogus debt and I can't get it to show up in "To Be Budgeted" The creative way in which I did it allowed all my accounts to reconcile without issue but I would like to remove this bogus $4000 from my account list.
Any ideas how to remove this?
Budget: Consolidated goes down to $0
This would be perfect except I still have $4000 sitting in a budget line item for this.
Its almost like they had a bug when I did this and the fixed the bug because I tried adding a new Line of Credit for $1000 and I don't get that money in my to be budgeted. Which i am 99% sure thats how I got myself into this mess.
Your screenshot shows that account is a credit-based account. You have needlessly tied up $4k of your real cash (that's held in other other accounts like checking/savings) in reserve to pay this phantom debt. Follow these steps:
- In the budget, select the Consolidated category in the CC Payments group and hit the Available to $0 Quick-Budget button.
- Delete the transaction in the Consolidated account.
- Close and delete the Consolidated account.
- Budget the $4k that showed up in TBB (in Step 1) wherever you like.
Because when I transitioned from ynab classic I had a few red arrow accounts with a total of negative $4000. You can't move to nYNAB with negative budget items so I created $4000 so I could clear those and start fresh. The goal being to put enough money aside each month so I could delete the bogus debt later.
I essentially took out a line of credit and added that money to my available to budget.
Steel Blue Koala said:
I created $4000
That account is a credit account which added exactly $0 to the budget -- by definition, the plan for you CASH. Go ahead, jack up that starting outflow in that fake account to ONE-MILLION-DOLLARS and you'll see the budget doesn't even flinch. 🙂
If your other account balances (checking/saving/etc.) match the real world and there are no red categories or TBB, then every penny in the budget is absolutely real.
Steel Blue Koala said:
I still have the problem of $4000 in my budget that doesn't exist.
And I'm trying to tell you it DOES exist.
YNAB goes out of its way to ensure the budget matches the CASH in your YNAB accounts. Again, as long as there is no red showing in the budget (categories or TBB) and your YNAB account balances match those in the real world, then every penny in the budget DOES exist.
You can prove this to yourself like this:
1. Scroll to the future-most budget you can. (This is to simplify the math.)
2. The total money in the budget = To Be Budgeted + Total Available (right side of screen).
3. The total cash on hand is the sum of all positive budget accounts (left side of screen).
The totals in #2 and #3 will be equal. Always. It's baked into YNAB.