Vehicle loan reducing Liabilities instead of increasing
I have 3 loans all from the same credit union and they are all linked accounts, so I only get the real-time balance updates. The mortgage and HELOC loans correctly show as negative amounts under Liabilities. But the auto loan shows as a positive amount, so instead of increasing my total Liabilities, it decreases it. I tried changing the loan type just for fun, but it didn't change the result, so it must be something with the way the loan amount is stored in Simplifi. Consistent on the web and mobile apps. Happy to provide more information if needed - thank you!
Here's an example of what I see….using made up numbers:
HELOC: -$10,000
Mortgage: -$30,000
Vehicle Loan: +$15,000
Total liabilities should be $55,000, but instead is shown as $25,000
Comments
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Hello @dougvanderyacht,
Thanks for reaching out! To clarify, your vehicle loan liability account is showing up as a positive balance instead of a negative balance, correct? How does the balance appear on the bank's website? Is it the same there? Let us know!
-Coach Jon
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You're correct - auto loan showing as a positive balance on Simplifi. Shows as a negative balance on the bank website - same as the mortgage and HELOC
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Hello @dougvanderyacht,
Thank you for confirming! Can you supply a screenshot showing the balance on Quicken Simplifi as well as a screenshot showing the balance on the bank's website? You may feel free to directly message me if you prefer.
Additionally, I would see if a fresh connection would help here. You can make the accounts manual and then use the Add Account flow to get a completely fresh connection. If the connection is successful, you'll then want to link the accounts to your existing Quicken Simplifi accounts. Let us know how that goes!
Thanks,
Coach Jon
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Hello @dougvanderyacht,
Thank you, I received your message. If the account is switching to a positive amount as soon as you link it to the bank, it may be coming in that way from the bank itself. I noticed from the screenshot you sent, that the account itself is not actually listed as negative on the bank's website itself. It may be that the account type itself is presented this way from the bank's side as well. Have you verified with your bank if they can see why it would be coming in this way?
-Coach Jon
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I haven't checked with my bank, but can do that next. On my bank website the auto loan displays the same as both my mortgage and HELOC and those are showing up correctly in Simplifi.
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