Should I remove credit card transactions that are from months prior to when my banking data starts?

tucciamym

When I look at all my transaction data, my credit card data goes back much farther (over a year) than my bank transaction data, which is less than six months. Is there any reason that I should delete the extra credit card data so that I have the same time frame for both? Will this impact reporting, net worth, etc.?

UrsulaA

Your decision to delete depends on what you want Simplifi to display. If you delete the extra data and keep the same time frame for both credit cards and bank accounts, Simplifi reports will work without you having to filter out by date range.

Net Worth reporting starts on the day the account connects to Simplifi and you have the option to upload balance history data to see net worth prior to the start date on Simplifi for any account type.

Having the credit card transactions for a longer time frame than the bank account transactions will affect reports showing expenses, income, and net income. With the extra credit expense data, the net income report shows a lower net income for the periods without bank/deposit data. If you want a more accurate report, deleting the transactions is not necessary, just filter the data range using a start date when all accounts show data. If you are using the last 6 months option on Simplifi, then the net income is understated during the time the bank data does not exist.

SRC54

I evened up all my data when I started with Quicken Simplifi. I imported everything back to Jan 1, 2021. I deleted any transactions before 2021, but I did add a beginning balance for Dec 31, 2020 in all my accounts.

As Ursula says, this is all up to you. I added the Beginning Balance so I can double check to see if I have missing transactions. If I choose all transactions in an account, it should total up to the current balance. If not, either the balance is being reported wrong (this is happening with some banks right now though it usually fixes itself in a few hours) or there is a missing transaction somewhere. Again, there is no need to do this since Simplifi doesn't really bother with your cleared transactions in a connected account so theoretically your balance should always be correct.