Bank charges and interest
Bank charges and interest...
Debit to its own category of expenses?
Credit interest to TBB?
Hi Good Intentions !
There is an Interest & Fees category included by default when you create a new budget. Bank charges should be categorized there so you can keep track of how much your account is costing you. Interest paid to you, should be categorized as Inflow: To Be Budgeted with "Bank Interest" (or something similar) as the payee so you can track that in reports, as well. :)
For credit interest (interest earned on savings), I put this in TBB as it’s clearer that it’s an income stream in my YNAB reports & by sitting in TBB reminds me that a portion of it needs to be budgeted to my Income Tax category to avoid a surprising tax bill at the end. All personal preference though.