Fresh Start Carry-over Issue
I did a fresh start for 2021. In Dec. 2020 I had a Yard Care bill for $1,548.10 and the cheque has not been cashed yet, but I want my 2020 report to show the expense. How do I do that neatly so it doesn't mess up my 2021 figures when the cheque actually does come out?
What I did so far is: I entered the $1,548.10 as an expense in 2020; subtracted the amount from my starting balance in 2021. When the cheque is cashed, I figured I would not enter that into my 2021 budget. However, I am wondering if that will throw off the balances between my YNAB chequing account and the bank account and I'll be having to adjust all year through. I have not reconciled any of the accounts yet until I am sure they will be accurate and workable. Suggestions? Corrections?
It feels wonderful to have a clean fresh budget; but the process isn't always fun.