How to handle reports, split checks and sanity
I found a lot of resource about how split with friends, but they don't really work as I want.
I'm going to write you a life example so I could understand how to process money transaction effectively.
1. My SO and I took the bus and I bought two bus tickets (8$)
2. My SO bought two tickets for the science museum (30$)
3. Eventually we went to a pub and I spent 12$ for beers.
Everything is split equally. In this situation I need to:
- split every transaction I did (so I spent 8$ but 4$ go to "transportation" category and the others go to "loans" category)
- She bought me the museum but I want to note it into YNAB because at the end of the month I'd like to see that I spent 15$ in the "museum" category (but I don't really spent them!)
If I chose to put 15$ IN and 15$ OUT to "museum" category I didn't resolve my loan with my SO.
How to manage to have a -15$ in the museum category but maintain the "inflow" correct and pay my SO with the 5$ in the third step?
I hope that my question is clear to you, otherwise ask for explanation!
Easiest setup in the budget is to make a category for your SO's purchases and offset it enough to keep it positive. Budget $X to the category at setup and put that right in the name. If the balance is lower than $X, you are owed money, and vice versa.
Transactions are exactly as you described:
1. In whatever account you used to pay, record a split transaction: Net: $8 outflow; Split 1: $4 outflow categorized to Bus or whatever; Split 2: $4 outflow categorized to SO.
2. In any on-budget deposit account, record a split transaction: Net: $0 (no money came into your hand, right!); Split 1: $15 outflow categorized to Culture or whatever; Split 2: $15 inflow categorized as SO.
3. In whatever account you used to pay, record a split transaction: Net: $12 outflow; Split 1: $6 outflow categorized to Bars or whatever; Split 2: $6 outflow categorized to SO.
After these three transactions, the SO category will be $5 higher than starting. If you had offset the category with $20 to start (i.e., the "we're even" point), Available would be $25, meaning you owe $5.