Friday, April 20, 2018

Budgeting a Split Check in YNAB

One topic that seems to cause a lot of consternation in the YNAB community is how to deal with this common situation:  You go to a restaurant with a friend, and put the whole bill on your credit card then get paid cash by your friend for their share.

After much fiddling about, here's how I deal with it:
  1. Make the transaction a split.
  2. Add whole amount of the bill as an outflow against your Restaurant category.
  3. Add the cash received amount as an inflow against your Restaurant category.
  4. Add the cash received amount as an outflow against the "Petty Cash" category.
This results in a net transaction that matches your credit-card bill, and keeps all the bookkeeping magic in a single transaction.

Check my previous article for info on the "Petty Cash" category.

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