Credit Card Help

Hello.  Need to confirm Im doing things correctly.  

I started building a budget about the third week of December in prep for January.  Maybe I should just start over since its the 1st?  

I struggled with the Amex connection.  Everything else was working well.  With help from YNAB support that is working well now.  two questions

1)  my inital balance "manual balance adjustment" is different now.  (I paid Dec bill before the connection was established.  Do I just simply adjust the manual adjustment to reflect the current balance of the Amex card?  (FYI i pay the CC off every month).  

2)  The menu on the left with the Accounts...  that balance for Amex is different.  Why?

3)  Based on my understanding of the platform....  I thought if I bought groceries with my amex...  YNAB would pull the grocery money out of that envelope and put into the Amex.  I dont see that happening.  

 

Thanks for any help on the above! 

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  • I started mid-December and did a Fresh Start today.  The fresh start will keep all your categories and targets, which is nice if you don't want a complete redo.

    1) When I did my fresh start, I made sure my CC balances were correct (they all were).  Then I allocated money directly to those credit card funds for January PRIOR to funding budget items in January.  Hopefully that answers your question.

    2) From what I read, YNAB is not the best at keeping the linked CC accounts 100% accurate all the time in real-time.  I guess the syncing is not as smooth or frequent as it could be.  Over the last week I learned to use the Reconcile feature, which I recommend doing often (multiple times a week if you can, at least until you get in your own groove).  When you reconcile, you need to make sure the YNAB balance is the same as the CC balance based on your transactions.  You also want to pay attention to the little "c" (cleared) icon on the right side of your account transactions so you can mark something that has already hit your account.  It take a little bit to get used to but makes sense after using a bit.

    3) Are you either seeing the transactions in you AMEX or adding them yourself?  If so, I think how you described is how it's supposed to work.

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  • Hi there, YNAB Red Sox Fan !

    I'd also recommend reconciling your accounts, now and regularly moving forward. If you owe money on the card, it should have a negative balance. 

    If it does have a negative or zero-balance, when you have money in a category, and use your card for a purchase categorized to that category (i.e. groceries), YNAB will move money from the spending category to your Credit Card Payment category. 

    I wonder if you currently have a positive balance on your card, in which case, no money will move. I just sent you an email in case you'd like us to take a look at your budget directly. 😊

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