Changing a Liability Tracking Account to a Loan Account

Paying off debt in YNAB just got a little bit easier!

Do you currently use Tracking accounts to track your loans in YNAB? If so, read on to learn about the new Loan accounts in YNAB, and how to update your Tracking Liability account to a brand new YNAB Loan account!

In This Article

What is Changing

With the new Loan Account feature, you can now add the interest rate and required monthly payment of your loan. This information, along with your loan balance, will let you evaluate, set, and stick to your payoff goal by calculating your ideal payment. We’ve also updated the look and feel of the account, putting debt pay down planning in the forefront. You can experiment with increasing your monthly payment to see how much interest you will save and how much sooner you’ll pay off the loan completely. You can also add your desired payoff date and see how changing the payoff date will affect your monthly payment and the total interest you’ll save over the life of the loan!

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What to Expect After Updating

After clicking Get Started, you’ll be prompted to enter the details of your loan, including: the account type, balance, interest rate, and the monthly amount you are required to pay by your lender. If you have a Mortgage account, you’ll also be asked if your monthly payment includes escrow or fees.

What will happen to my existing Liability account?

Once you update, YNAB will:

  • Close your current Tracking account and adjust its balance to zero.
  • Add “Original” to the nickname of the Tracking account.
  • Cancel all Scheduled Transactions tied to the Tracking account.
  • Remove the Target in the loan payment category.
  • If applicable, it will also unlink any Direct Import connection the Tracking account has.

We recommend using this update tool because it will allow you to see the balance history from the original Tracking account in the new Loan account. Alternatively, you may decide to close your existing Liability account whenever you’d like and set up a completely new Loan account by clicking Add Account and following the prompts.

Note: you will not be able to migrate an existing Liability account to an existing Loan account.

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How to Update Your Existing Tracking Account to a New Loan Account

  1. First, you'll want to reconcile the Tracking account. This will ensure that the Loan account's balance will be accurate!
  2. After you've reconciled, click Learn More on the blue banner across the top of your Tracking account register. (The Learn More button can also be found on the account's Edit Account screen).
  3. Follow the prompts to get the new loan account set up!
  4. Re-create your Scheduled Transactions: If you have any Scheduled Transactions for your loan payments, those will be deleted in the updating process. Be sure to re-create your Scheduled Transactions, choosing the new Loan account for the Transfer Payee.
  5. Create a new Debt Payment Target: Additionally, changing a Tracking account to a Loan account will remove the Target for the category you use for loan payments. If you have a Target on your loan payment category, you can create a new Debt Payment Target for that category after the updating process is complete!

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