Have you moved money from one physical (you know, real-world) account to another and need to reflect that in YNAB? No problem. How your transfer is recorded depends on how those real-world accounts are set up in YNAB.
Recording a transfer
If you've made a transfer between real-world accounts and both of those accounts are set up in YNAB, you’ll be making a transfer in the app.
- Select the account that the money is leaving.
- Click Add a transaction.
- In the Payee field, transfer options are automatically listed at the top of the drop-down menu. Select the one your money is moving to.
- If the destination account is another budget account, there's no category needed. (You’re just moving money from one place to another.) If the destination account is a tracking account, you’ll need to categorize this transaction.
- Enter the outflow amount.
That’s it! The transfer will automatically show up in both accounts.
When is a transfer not a transfer?
When getting ready to enter a transfer, ask yourself first, are both of these accounts set up in YNAB? If they’re not, this won’t be a transfer in the app. So what is it exactly?