Credit Card Payments on Mobile
There are two ways to record a payment to your credit card. You can enter it or import it—or both, actually. Either way, the payment transaction needs to be entered as a transfer.
Entering a Credit Card Payment
- Tap Accounts and choose the credit card account.
- Tap the Add Transaction (+) icon.
- Enter the amount of the payment. Tap the toggle to indicate the transaction is an inflow to the credit card account.
- Tap the Payee field and choose a Transfer Account. The options are listed at the very top, or right below the Near You section if you use Geo Payees. Select the account from which the payment was (or will be) made.
- Your last step is to tap Save Transaction.
(You'll notice some visual changes in the app since this video was recorded, but the method remains the same!)
Paying down a credit card from an account outside the budget
If you're using money outside the budget to pay down the credit card, you'll set up the transaction as a regular inflow instead of a transfer. Here's how:
- Use a regular payee (you can create one like "Payment from Outside Account")
- Use the category Inflow: Ready to Assign
- Enter the payment amount in the inflow column. That payment will then use funds from outside the budget to reduce the balance on the credit card.
When you enter that payment, the working balance on the credit card will decrease, but the cash in the Credit Card Payment category will stay the same. Be sure to check the Credit Card Payment category after you enter that payment. If you have more cash in the Credit Card Payment category than the working balance on the card, you can move the extra cash out of the Credit Card Payment category and give it a different job in the budget.
Entering a Credit Card Payment on iOS
You can also enter a payment by long pressing (think tap-and-hold) the Credit Card Payment category, which will bring up the Context Menu. At the top of that menu, tap Record Payment, which will bring up the payment transaction.
Enter the amount of the payment, confirm that the Payee is a transfer from the correct account, and tap Save Transaction.
Imported Credit Card Payments
For linked accounts, credit card payments will import once they clear. If it's the first payment between two particular accounts, YNAB won't know to make it a transfer. That is, unless you enter the payment first—using the steps above—which allows them to automatically match up when the cleared transaction imports.
If a credit card payment imports as regular transaction, here's how to make it a transfer:
- Open up the transaction that imported.
- Tap the Payee field to change it to the appropriate Transfer Account.
- Now you can Save Transaction.
Now you'll see one side of the transfer in each account. If you've already imported the payment in the other account, it should have matched up and just need approval. Going forward, as long as your bank uses the same payee for payments, YNAB will know to make it a transfer automatically. All you'll need to do is approve the match!