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Net Worth Report

Adanac

I just started with Quicken Simplify (in Canada) and have successfully synced all of my accounts. I'm trying to create a net worth report and I see that it only shows the current values for the accounts. Is there a way of showing historical net worth monthly going back a few years? Any comments/suggestions would be greatly appreciated. Tx

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Net Worth

Accepted answers

RobWilk

Net worth right now for any account only starts at the date the account was created in Quicken Simplifi.

I was one of the first to ask them to change that, vote for the idea here:

https://community.simplifimoney.com/discussion/4780/net-worth-report-start-tracking-balances-on-the-date-of-opening-transaction-edited

As of now, I've got 78 votes; I would appreciate one more; just click the up arrow in the yellow section of that page. If it takes you to page 2 (or later?) make sure to go back to page 1 of that post to vote.

All comments

RobWilk

Net worth right now for any account only starts at the date the account was created in Quicken Simplifi.

I was one of the first to ask them to change that, vote for the idea here:

https://community.simplifimoney.com/discussion/4780/net-worth-report-start-tracking-balances-on-the-date-of-opening-transaction-edited

DannyB

I'I'm pretty sure you can import historical data if you have it available. I don't think any app can give you data analysis without a data base to work with.

RobWilk

You can import the raw net worth numbers, but you can't get net worth from the transactions prior to account creation in simplifi, @DannyB

Adanac

Thank you for your comments. It's surprising that previous transaction data that is already in the system can't be used for net worth reports. Any idea whether Simplify is aware of this and if they plan to fix it?

RobWilk

@Adanac They're considering this "by design" right now (i.e. not a bug), and the only way to change the design is to get enough votes in an idea post (like the one I linked) to submit for consideration. I would click that link to the post above that i mentioned, and vote/comment on it, to let the support team know you're also interested in having this changed. It's been well over a year (April 2023) that I let them know about it, 78 people agree with my post, but that hasn't been enough to submit it for even consideration yet, and I'm not sure what the exact number of votes that would be required for them to possibly change this.

Adanac

Surprisingly, Simplifi net worth reports still can't show net worth from transactions prior to the date the account was created in Simplifi. From some of the posts in this forum, it seems that there is a way to input old net worth information manually and have it show up in the Simplifi net worth report. Could anyone describe how to do that or provide a link to a site that describes the process.

It would be great if Simplifi can correct this problem

Coach Natalie

@Adanac, you can import your Account Balance History by following the steps here: https://support.simplifi.quicken.com/en/articles/8912157-how-to-import-account-balance-history

I hope this helps!

Adanac

Thank you Coach Natalie! That looks promising but it may take me some time to work through it (I'm an old guy of over 70 and not as sharp as I use to be).

One question I have at the outset is: Do I have to create a CSV file if I have access to the transactions in my bank account online. Could Simplifi pick up the transactions directly from my bank account? When I first downloaded the transactions, Simplifi only picked up the transactions from the last 2-3 months or so, for some reason. Is there a way of downloading the older transactions directly from my bank account. This would be the easiest for me since I only want to pick up the transactions that are currently available in my bank account transactions. I must be missing something though….

Coach Kristina

Thank you for your reply,

To answer your question, yes, you most likely will need to create a CSV file.

The financial institution decides how much history to make available for automatic download into Quicken Simplifi, and that amount of history is usually around 90 days worth. Any history you need that doesn't download when you connect the account in your Quicken Simplifi would need to be imported via CSV or input manually.

I hope this helps!

Adanac

Thank you Coach Kristina! I understand your comment about needing to create a CSV file for non-active transaction lists. In my case, the transactions I'm trying to download are transactions that are currently in my active online bank account transactions. For some reason when I initially downloaded the transactions, only the last 3 months were downloaded. However, my bank account shows transactions going back a full year. Why can' I download the transactions older than 3 months? Thanks

DannyB

@Adanac I believe that is a bank specific restriction. You should be able to do a manual custom download of the whatever is still available from your bank as a csv file open the file in Excel and do the appropriate edits to conform to Quicken Simplifi format and then you can easily import that data into QS.

I'm in my 70's and have done this very process for one of my accounts. It was a fairly easy process.

But your question has to do with historical account balances I believe which is as far as I know a different process so I'd look up the article @Coach Natalie points you to.

Adanac

Thank you and sorry for harping on this. It seems unintuative and unnecessary though, that transactions that are actively online at a bank's website, cannot all be automatically downloaded into Simplifi. I can't see why the banks or Simplifi would want such a restriction. I think Simplifi should look into this to verify that it's the banks that are preventing this type of automatic download into Simplifi. Just my thoughts though….