Today we talk about handling reimbursements gracefully–from both the Register and Budget side of things. Also, I am now using a sweet lavaliere, so audio is much improved!
Today we talk about handling reimbursements gracefully–from both the Register and Budget side of things. Also, I am now using a sweet lavaliere, so audio is much improved!
That math didn’t work out. If you hadn’t budgeted another $100 in Feb it would have been correct, but with -30 to start +100 budgeted +130 reimbursed -90 spent you would have 110 remaining in Feb.
You don’t have to keep budgeting to a category that is for reimbursements, it will fill itself back up with the inflows directly to the category as you mentioned in the video.
Chris
Hey Chris,
Thanks for pointing that out. I should have made clear that you budget pretty much one time to a category in order to ensure that you have cash flow to actually cover it, and then from there, as you say, no need to budget again unless you’re expecting a big surge of reimbursable expenses you’re going to have to float.
Hey Jesse, really enjoying the whiteboard wednesdays.
Have you considered changing it up a bit by editing in some screen capture/video footage of the actual YNAB 3 screen in order to illustrate some concepts that you’re trying to explain? The part where you’re trying to explain how the budget would look for reimbursements would have been much clearer if we could see the actual screen. Of course, editing becomes more tricky but I’m sure you could work it out. Something to keep in mind for future whiteboard wednesdays :)
This was totally eye-opening for me! I am so conditioned to put all of my income into the “available this month” or “available next month” categories, that it didn’t even occur to me that I could cross below the grey line and deposit income directly into a particular account! I don’t imagine you’d use this often, but it makes total sense for cutting steps on workplace reimbursements. Thanks for the great tip!
P.S. You might want to make sure that your whiteboard is level with your image frame… for really anal people like me it’s kind of distracting to see it on a slant!
Thank you for explaining how to handle reimbursements for business expenses in YNAB. I was doing this already but your explanation makes it clear how this works in YNAB. This reduces the amount of transactions and keeps your budget accurate to what you actual spend.
PS: In the memo field I put quick note “Reimbursements – (note what expense was). This helps in the sort for find my “Reimbursements”.
Thanks for providing Whiteboard Wednesday.