Correcting account balance

Due to some old errors in my budget and transactions, I needed to do some corrections to May budget.

 

What I did was:

* Made sure all account balances were correct

* Made sure all credit card balances were correct

* Made sure all credit card "available" matched the credit card balances

 

The issue is that I had to correct one account with +5000 NOK to make it match the balance. What happened then was that the "Funds for May" increased with 5000 NOK, since the correction is an inflow on the account itself. This means that my budget has increased with 5000, but these 5000 are really not existing.

 

So:

* My "Funds for May" before correction: 75 000 NOK

* My "Funds for May" after correction: 80 000 NOK

 

This means that I am asked to budget for these 5000 extra - but they are "not real". If I do this, there will not be enough funds in my accounts to cover the spending. I will have negative liquidity.

How can I get in sync? It is not an option to go back and fix months old transactions etc. I need to get in sync otherwise.

Edit: I found a fix, but I am not sure if I like it. I created an error account+and an error budget category. Then I budgeted those 5000k to that category, and made a payment from the error account with the error category. Then I was able to decrease the budget back to the correct amount. I am not sure if this was a good solution - I now have an error account that has balance -5000, which I will never get rid of...

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  • If they are not real, you shouldn't add them to the account.  If they are needed to balance the account then they are real.    

    Like 1
  • I'll also add, funds for may is not the number you want to look at to determine what you need to budget.  "To be budgeted" is the number that matters once your account balances are correct.

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    • Herman But there are not enough funds in the account to cover that.

       

      E.g. "To be budgeted" might be 100 000 NOK. If I sum all my balances on all my accounts, there is only 95 000 NOK there. Since I did correct the balance on the account from -5000 to 0 NOK, that correction transaction is registered as inflow, and hence addede to the "to be budgeted". But if I spend 100 000 NOK, my account will be -5000 again. 

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      • Annieland
      • I was told there would be no math.
      • Annieland
      • 5 days ago
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      • Reported - view

      Ziggy Stardust99 If you have an extra 5000 that wasn't accounted for in your budget, and you adjust an account so that it is there, then you indeed have a 5000 NOK income to budget.  Just double check all your categories (wouldn't hurt to check a month back or so in the budget, not the accounts).  If everything is green or gray, and your CC balances match your accounts, the money seriously is there, promise!

      Like 1
    • Annieland They are the result of some previous errors in transactions. The money are not there - it is quite easy to sum the available balances of my accounts :-)

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      • Annieland
      • I was told there would be no math.
      • Annieland
      • 5 days ago
      • Reported - view

      Ziggy Stardust99 So if you look at "Total Available" on the right hand panel of the entire budget screen, does it match the total of all the cash in your accounts?  If not, I'm sure Matthew will be happy to take a look!

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    • Annieland That sum is correct (but does not include credit card). If I take that total sum minus credit card debt, I get a total that is 5000 lower than the total I have budgeted this month.

      E.g.:

       

      Total is 110 000. Credit card is 15 000, so "money to budget" should be 95 000. But the system believes it is 100 000 because I did the account correction from -5000 to 0.

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      • Herman
      • herman
      • 5 days ago
      • Reported - view

        Ziggy Stardust99 All I can tell you is that YNAB keeps those things in balance automatically.  The error is elsewhere if that is the case. You might ask support to look at your budget because it's difficult based on your description to see where there might be an issue. 

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    • Ziggy Stardust99 Is the account whose balance you corrected a checking account? Or a credit card account?

      If it's a checking account, correcting the balance from -5000 to 0 will add 5000 to your budget.

      If it's a credit card, correcting the balance won't add anything to your budget—it just reduces your debt.

      The total amount of money you can budget isn't affected by your credit card balances, unless you have a credit card with a positive balance.

      Now, if you’d like me to take a look, go ahead and enable Support Access for your account. Once you’ve done that, let me know—and mention whether you’d like to continue the discussion here or via email instead.

      Like 1
    • Matthew It is a checking account. And "my goal" is to correct the account without increasing the budget. Those 5000 are some errors that I cannot use hours to investigate. We dont have linked accounts, so there are many sources of errors and previous correction.

      But I took the easy way out and created a fresh budget instead. That was the easiest option. Then I could set correct start balances etc.

      Like 1
    • Ziggy Stardust99 A Fresh Start sounds great! Just in case this comes up again: no matter what, any time you adjust the balance of a checking account in YNAB, that will add money to or subtract money from the budget.

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  • I think I need to withdraw this discussion 😄. I see now that my thoughts were in the wrong place.

    I thought for some reason that "Total budgeted" should match my available funds in my accounts today. But total budgeted should of course match my available funds at the start of the month. I have already done some spending.

    But the important thing is that the sum of available matches what is in my accounts. Then I should be fine I guess. 

    But anyway I have also a fresh clean budget now... 😂

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    • Ziggy Stardust99 No worries—glad you figured it out! I do think we could deemphasize some of those "magic numbers" that aren't really a part of everyday budgeting. (Total Activity is the one that really tends to trip people up!)

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