"Report" Date for Transactions (Accrual Based Accounting)
Feature Request:
Please implement a feature for transactions that allows users to manually input a date into a new "Report Date" field, which may differ from the transaction date. The Report Date will be used in Reporting, Watchlists, and Spending Plans instead of the transaction date.
Benefit:
This feature allows users to optionally adopt an accrual accounting approach to track their expenses and income over time in Reports, Watchlists, and Spending Plans.
Context:
I'm not an accounting expert, but it appears that Simplifi currently follows a cash-based accounting approach rather than an accrual-based one. While cash-based accounting is likely more suitable for users without sufficient cash reserves to manage short-term cash flow, it can present a less accurate financial picture when using the Reporting, Watchlist, and Spending Plan tools.
Example:
I pay $100 for groceries for my partner and me on January 31st using my credit card. She Venmos me $50 for her share of the groceries on February 1st. My Spending Plan will show that I spent $100 on groceries in January and received $50 in income for groceries in February.
While this is technically accurate from a cash flow perspective, it misrepresents my actual monthly expenses.
Personally, I find that the Reporting, Watchlists, and Spending Plan tools don’t provide an accurate enough picture for me to rely on them unless an accrual-based accounting option is available.