Manually Tracking Crypto
Good day everyone!
I spent the last week trying to find a Crypto Exchange that both works in the U.S. and allows a connection to Simplifi. In the end, there isn't a single one at this exact moment (at least any that you're allowed to create a new account with & fund with USD).
So I shifted to manually tracking. I created a manual account in Simplifi named "Coinbase Pro" and I added 2 transactions in it that correlate to 2 Bitcoin orders I made.
However, it appears as though the transactions don't correlate to Simplifi's Portfolio Holdings, which is what calculates and displays the investment balance and value. Why would this be the case? Does this mean every time I buy more Bitcoin I'll need to add both a new transaction and update my holdings (assuming I want to keep track of each transaction)?
Thank you kindly!
Best Answers
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@anold, thanks for posting your inquiry to the Community!
The reason you're not seeing the Investment Transactions impact the Portfolio is that this is how Investment Transactions are designed — they aren't meant to interact with your Investments Portfolio or account balances in any way. Our support article here has more info on this:
With that, if you want to track your crypto holdings manually in Quicken Simplifi, you'll want to do so by adding Holdings in the Portfolio section. You can then update the Holdings as the values change. The value of the Investments Portfolio should match the account balance in the Accounts List for manual investment accounts. The only reason you'd need to track the Investment Transactions as well is if you'd like to include them in your Spending Plan or Reports. Or, I'm sure there are other reasons why users would want to track their Investment Transactions in Quicken Simplifi, but it is meant to be a "behind the scenes" type of feature.
Let us know if you have any questions!
-Coach Natalie
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@anold, thanks for the reply!
It looks like the limit is 4 decimal places for fractional shares. If you want to request a higher number of decimal places, I'd suggest creating an Idea post so other users can vote on it and our product team can review it.
As for working around this for now, I'm afraid an elegant solution isn't coming to mind. You will most likely have to round up on the shares and then tweak the price per share so you have a correct (or as close to correct as you can get) value so your account balance and net worth are accurate (assuming that's your end goal).
I hope this helps!
-Coach natalie
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Answers
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Thank you for your response @Coach Natalie.
In that event, there's a 2ndary issue. For Investment Transactions, you're allowed to put a value many places after the decimal point (for example: 0.000436 Bitcoin), as we know that's how Bitcoin is generally bought and sold because 1 Bitcoin is so expensive.
However on the Simplifi's Porfolio Holdings section, using the same example amount, you're only allowed to go to 0.0004.
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