is a piece of personal finance software that comes equipped with robust capabilities for financial budgeting. The software is compatible with PCs running Windows or Mac operating systems, and it also comes with a mobile version that can be used to check your budget and record transactions while you are not using your computer. Through the use of Cloud Sync, the mobile apps will automatically bring any transactions you do on your smartphone or tablet up to date with the desktop program.
Components of Software
The YNAB software includes a user interface that is straightforward and simple to understand. If you do not wish to utilize the planned transactions tool, it will collapse, and accounts that are used for budgeting accounts that are off-budget and closed accounts will also collapse in the sidebar.At the beginning of each month, the software displays consolidated information regarding the budget, and YNAB includes an autosave tool that stores data on a frequent basis. If you make a mistake with your budget, you also have the option to restore it to an earlier version. The following are additional features:
Printing that is simple
The process of switching between multiple budgets without having to restart.
Automated tool for account reconciliation
There will be no duplicate transactions with the import of the QIF file.
Improved flexible data export
Brand new reports that are able to effortlessly delve into specifics
Strong Instruments
YNAB is predicated on the premise that you should have money set aside to draw from in the event that unforeseen expenses arise, and the software assists you in working toward becoming debt-free and establishing a financial cushion to fall back on in these situations.On the budget screen, the details at the top of each month column show you the money that was not spent and rolled forward from the previous month, the total amount that was overspent in all spending categories during the previous month, the income that has been received to date for the current month, and the total amount that was budgeted for the current month.You will need to input or download transactions at least once a week, and preferably once every few days, in order to maintain the usefulness of this information.
Cloud Sync
Using Cloud Sync, YNAB will immediately save any changes that you make while you are working on the software. You will need a free Dropbox account in order to use this feature, but after that, you will be able to use YNAB on any of your computers, regardless of whether they run Windows or Mac operating systems. These backups also make it feasible to swiftly revert to the data from an earlier point in time in the event that you make a mistake.
Reports
Although YNAB does not provide an abundance of reports, it does feature respectable alternatives for personalizing the data based on the time range, budget categories, payees, and accounts. It provides pre-made reports, such as Spending by Category, Spending by Payee, Income vs. Expense, and Net Worth, among others. You can receive more specific information by clicking on the individual slices of a pie chart, and you can also print the reports and export the data from the reports to other programs, such as Microsoft Excel.
YNAB's Pricing System
If you choose to pay for YNAB on a monthly basis, it will cost you $11.99 per month, but if you choose to pay for it annually, it will only cost you $84 for the entire year. They also provide new customers with a free trial period of 34 days, during which time they allow consumers to test out the program before making a cash commitment. You only need to provide the company with documentation that verifies your attendance in an accredited educational institution in order for them to waive any fees associated with your YNAB account.
