Credit Card Payments - Scheduled Transaction?
Brand New user, Thank you Nick True videos for actually explaining how to use the program, It is a completely different concept than I'm used to. I like how it handles Credit card, but is there a way to show the Credit Card payment that has accumulated as a scheduled payment on a specific date. I have heard of people putting the due date in the Name of the credit card, which is fine, but I would like to see the payment in my upcoming transactions in the account register.
You can enter the transaction as a recurring scheduled transaction for the due date.
This won’t show you what has accrued because YNAB has no way of knowing how much you want to pay, just how much is budgeted to do so. If you are able to pay your card in full each month, a good practice is to have the card company auto-withdraw the statement balance, and, at the beginning of the month or when you get your statement, update the next instance of the transaction to the statement balance which will be withdrawn that month.
Even if the card doesn't have paid-in-full status, once you decide how much you will pay, enter that as a scheduled transaction. (Or update the amount if you have a recurring transaction scheduled.)
You will get a warning in the budget if the Available payment amount is insufficient. In which case, you need to make more budgeted purchases (i.e., riding the CC float) or budget to increase Available funds.