Adding Income and Other Inflows
Any income you receive will be entered into the same account in YNAB that it was deposited to in real life. So if your income is deposited into your checking account at the bank, it will be entered into your checking account in YNAB. These steps are the same whether the income is a paycheck, savings account interest you've accrued, or a birthday check.
If you're just getting started and haven't had a chance to add an account yet, you'll want to do that first!
In This Article
- Adding an Income Transaction
- Looking for Income Categories?
- Reimbursements, Refunds, and Other Inflows
It's important to enter your income only when you receive it. You'll be more successful if you work only with the money you already have on hand. Want to plan ahead? No problem—set up a scheduled transaction for income you know is coming and consider giving a Budget Template a try, too!
Adding An Income Transaction
Add new income to your budget by adding a transaction in your account.
- Select the appropriate account.
- Click Add Transaction.
- Use the payee to describe the source of the money. This could be a specific person or business, or something more general like 'Paycheck,' 'Interest,' or 'Gift Money.'
In the category field, select
Inflow: Ready to Assign.
- In the inflow field, enter the amount of income.
- Click Save.
Your money is now waiting in Ready to Assign for you to give those dollars jobs!
Looking for Income Categories?
Income is typically categorized as Inflow: Ready to Assign. The amount in Ready to Assign is the dollars in your accounts that don't have jobs in your budget yet. Income is categorized to Inflow: Ready to Assign so that you can give those dollars jobs with Rule 1.
If you would like to track income sources, use different Payees (they'll even be listed separately on your Income v Expense Report!)
Reimbursements, Refunds, and Other Inflows
More often than not, any inflow transactions will flow through Inflow: Ready to Assign, but there are some exceptions. Some examples could be an inflow transaction from a recent return you've made, a refund you've received, or a reimbursement from a friend. With any of these transactions, you might be wondering—which category should I select? To quickly determine the answer, ask yourself the following: “Is this inflow offsetting an expense that’s already in YNAB?”
If no, then consider this new income and categorize it to Inflow: Ready to Assign.
If yes, then categorize it back to the original spending category! This will also help keep your reports happy since your spending will be offset by the amount of the return.
If unsure, you can read more about how we suggest handling reimbursements here or reach out to our Support Specialists for more help!