From Simplifi FAQ: “Quicken Simplifi treats cash accounts with brokerage-like behaviors as investment accounts, excluding their transactions from Spending Plans and certain tracking features by design, as they are intended for investments, not daily spending.”
That final statement, “…as they are intended for investments, not daily spending,” is simply false.
Cash accounts with brokerage-like behaviors (aka, brokerage accounts that include features like checking, debit cards, billpay, direct deposit, etc.) are absolutely intended for daily spending.
Inexplicably, despite spending and investment transactions in these accounts being readily identifiable as distinct, quicken limits what can be done with the payment/deposit transactions in these accounts (and in some of its standard features it simply ignores them) simply b/c of their account type. Their proposed workaround—to create manual accounts for the cash—defeats the purpose of the app (automation and transaction download).
Since countless people in the real world deposit business income into brokerage accounts with checking features, and use these same accounts for billpay and spending, Simlifi is inexplicably making itself unworkable for many prospective customers who are likely to be squarely in Simplifi’s target market.
Furthermore, Simplifi currently doesn’t use investment transactions for much of anything. So implications of treating them as ‘special’ cash transactions that are excluded from reports is minimal.
Put differently, have one underlying acct type in which any transaction can be designated as a cash transaction or an investment transaction. Then, for checking accts, disallow investment transactions. For brokerages with bill pay, allow everything.
