Second day using Tiller, actually used YNAB briefly a couple years back and wasn’t very serious with it. I want to get into tracking my finances and debt etc. I added my Toyota Financial account but the balances page shows what looks like would be my payment but its incorrect and the transaction tab shows the payments but is also incorrect on 1 of my 2 vehicles. Am i doing something wrong here?
Also is it best practice to only have the transactions tab show my accounts i use to make and receive payments and not have my mortgage and vehicles etc.
I guess since I don’t really have much experience or a background in finances some of this seems kind of confusing.
Typically you’d see outstanding liabilities like a run-up credit card balance or outstanding debt in the Balances sheet and then see payments against those accounts in the Transactions sheet. Most users include both asset and liability accounts so they can get a sense of their net worth.
How would I go about removing those accounts from showing in transactions? Im not sure how i did it other then adding the accounts and the data just kind of input its self from what I can tell. Is there any way for me to remove those accounts from showing in the transactions tab and then how can i correct the balances on the balance tabs for my auto loans?
That depends on how much the data has already populated. If you want to remove everything to do with Toyota financial you’ll need to first remove it from the data feed, this is where you initially added the account, you’ll need to disconnect it, and then to remove the data you’ll need to remove it from the, account, balance, and transaction tab.
For better or worse if you’re not very far in; it might be a better idea to just start from scratch and not add the account in the setup.
I’ve restarted a few times myself, while trying to see what works best for me; so it’s a normal thing, just make sure you document that customization you’ve made.
I went ahead are restarted and seems to be much better off right now.
I do have a question still related to this topic. Am I able to add an an account, like my mortgage but not have it show transactions in my transaction tab but I still want to see the balance of the mortgage in the balances tab?
I believe in order for tiller to show the updated balance it needs to pull in the transactions to update the balance. if you want you can probably try using autocat to remove as much as the info as possible?
hmm ok well in that case whats the proper way to categorize a mortgage payment or a personal loan payment. The checking account would have a debit of say $1,500.00, then the mortgage account its self the payment would be categorized how? I have no background in finances so sorry if this is just super basic stuff.
Edit: addition to post
Similarly, for credit cards , i understand the purchase is the expense so the the credit card payment is just a “transfer” from the checking account to the credit card. Yet when I do this how would I truly track how much i have in payments per month if transfers should be hidden from reports as they are not expenses?
for both questions, are you trying to use tiller like a bank recon where everything balances, or more like an expense tracker? For better or worse it’s not really a finance question, it’s more like what kind of bookkeeping would you like to do? ie are you going to have everything in tiller or specific accounts.
I think im leaning more toward having everything in tiller, my goal is to have a single pane of glass to see all of my accounts, balances, bills, and budgeting etc.
Ok, then using the cc as an example, you have your bank and cc accounts linked:
the expenses would be each charges made;
income would be funds deposited into your bank account, and then
transfers would be the withdrawal from the bank for the cc payment and the cc payment made on the cc side.
For a loan payment, it depends on how you categorized the initial loan payments. ie there’s other sheets on tiller for loans specifically. if when you got the funds did you categorize as income or transfer? 'cause when you added the loan account it to tiller you should have a liability balance, so how the reduction of that is categorized depends on that.
Ok 100% understand the credit card, loans not fully yet, i will look at the other sheets for loans and see if they help me get it figured out. Thanks so much for all the information so far.
Not seeing any sheets in the community sections for loans is there any other repositories with tiller sheets to add-in?
there’s Docs: Debt Planner Sheet i don’t use it fully as intended though as I only import partially.
better way to understand loans is there’s an interest and principle portion. how you would code that depends on how would or did you enter the initial receipt of the loan proceeds. Say it’s a mortgage, on your statement you’ll have a principle and interest. you can code it all to expense, or if you’re using the net worth / asset tracker you can have a part transfer and part expense.
Ok so if im understanding correctly, I would have 3 total categories to categorize this or would i just have Interest charge for both sides of the transaction so the category 0s out?
Categories:
Interest Charge
Interest Paid
Transfer
the transfer section would be under the type:
if you want another category or group that’s fine as well but that’s something else. As for the scenario’s they’re basically the same right? It might be easier to see after you have both the bank trans as well asthe loan trans populate to see what needs to be catagorize
