YNAB You Need A Budget

[RoboLobo]

Hi YNABers, long time no get on this board. I am on about my 8th iteration of my YNAB budget, and about to chuck this one because I just can't figure out how to properly record a string of credit card transactions. Can you help?? It's my Macy's card, which I am about to chuck as well. Here are my transactions beginning 1/1/12:

1/1/2 Pre-YNAB debt: -$52.81 (recorded correctly; OK means I'm on track I think)
1/6/12: $10 transfer payment (OK) Balance now -$42.81
1/17/12: $2.00 interest charge (in it's own category, still OK)
1/27/12: $74.13 clothing purchase (in clothing category OK)
1/28/12: $82.21 clothing purchase (in clothing category OK)
1/30/12: $74.13 purchase above returned (credited back into clothing OK)
2/4/12: $25 transfer payment (OK)
2/7/12: $82.21 clothing purchase above returned (don't ask!; credit back into clothing)

Balance is now -$19.81 (I owe $19.81)

2/7/12: $109.57 clothing purchase (in clothing category OK)
2/17/12: $2.23 interest charge
2/23/12: $109.57 clothing purchase returned, but credited as $119.58 due to a gift card I had used previously.

Balance on card is now $-12.03 owed, which Macy's and I agree are correct. But, the $25 transfer I did on 2/4 reduces the pre-YNAB debt to -$17.81, which is mathematically correct but how do I reconcile it with the correct balance of -$12.03? I assume it has to do with the morass of the interest and returns and the $10.01 credit I received, but I just can't untangle it. Can anyone help?? Thanks!

[RoboLobo]

As a further note, I think I am confused because YNAB shows my pre-YNAB debt as $17.81 owed, whereas I actually owe only $12.03. So if I only budget $12.03 into that category to (actually) zero out my debt, YNAB will show that I still owe $5.78. Do I need to enter some sort of negative $5.78 in the interest or clothing category to offset and thus accurately reflect that I am only paying $12.03 to pay off the card?

[RoboLobo]

Meh, I despaired and did a fresh start. The pre-YNAB debt rigamarole and credit cards in general are just antithetical for getting what you need out of YNAB. And that's not YNAB's fault. Credit cards are evil, what an eye opener

Thanks!!!!

[litterbug]

Meh, I despaired and did a fresh start. The pre-YNAB debt rigamarole and credit cards in general are just antithetical for getting what you need out of YNAB. And that's not YNAB's fault. Credit cards are evil, what an eye opener

Oh boy, I'm glad you did, because my head was spinning at the idea of trying to sort that out! I've used my CC a few times when I've had my purse but not my checkbook, cash or debit card, but I typically transfer a payment from checking the same day just to avoid getting confused. It's a pretty rare occurrence, and I'm still spending budgeted funds, but using a credit card I'm paying off still annoys me.

[topcat]

I hope the restart works, but here are my thoughts on the matter. Mathematically, the $5.78 discrepancy is the difference between your gift card and the interest accrued (10.01 - 2.00 - 2.23 = 5.78). The 25.00 transfer does not figure in this issue. How, exactly, did you enter the two interest costs and the last return? A test run using your transactions resulted in a final balance of 12.03.

Side thought: Do you have Error Checking turned on? (Under File)

[RoboLobo]

Hi Topcat. You are absolutely right about the $12.03. Error Checking is indeed enabled. I just want to say that I paid off the Macys card tonight and so I have no pre-YNAB debt (at least not for that card). So that should help. Thanks for the advice!