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Cash Flow Graph should account for variable (Statement Balance) Credit Card payments each month

scottnliz Member ✭✭✭✭
edited December 2021 in Feature Requests
I use my credit card for most of my monthly purchases, other than critical bills like mortgage and power bill that don't accept credit card. And I pay the credit card statement balance in full every month so I'm not paying interest charges. The credit card payments come out of my primary Checking account, but the amount varies each month, based on how much spending I had in the previous statement cycle.

As a result, the Projected Cash Flow graph for my primary Checking account is totally wrong, because it doesn't account for the large credit card payment each month coming out of that account.

Is there a way to solve for this so this graph actually is meaningful?

I could add a recurring transfer each month for some fixed amount, but the amount would only be estimated, and wouldn't produce an accurate cashflow graph, that would warn me if my checking account was going to be too low and at risk of overdraft.

But Simplifi has all of my credit card expected recurring expenses, and planned spending items already in my Spending Plan, so it should be able to solve for this in an automated fashion, right?
18 votes

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  • achester99
    achester99 Member ✭✭
    I think perhaps you could click the three little dots in the right upper corner of the bubble for the upcoming credit card payment, select edit reminder, and simply change the amount to what will actually be paid out for that credit card cycle. That is what we do at the beginning of each month we edit the reminders for credit cards we pay off each month. Hope that helps.
  • mschauer
    mschauer Member
    To do this, Simplifi would first need to know your statement close date and payment due date. Also, unless you are adding in your transactions manually, I can foresee some cases where they sync late, and then the calculated balance in Simplifi might not match what your credit card statement says. But, I totally agree - this would be a good feature that I've requested on other budgeting apps I've used in the past, but it never came to fruition.
  • natelaff
    natelaff Member
    Quicken at least will let you use current balance as an option. This should be brought in. One of the last issues preventing me from moving from Quicken desktop.
  • JChaps
    JChaps Member
    edited April 2021
    I realize this is an old post, but I figured I'd chime in how I do it (because I use my credit cards the same way as the OP).

    When I pay my credit cards, I always pay on the due date. So, I've set up recurring transactions to occur on the monthly due date for each card.  The recurring transaction is set up as a "transfer" from my primary checking account to the credit card account.  The amount of the recurring transaction is a best-guess from average billing over recent months.

    When my bill comes in from each credit card, I go to the upcoming transaction reminder for that card, and edit it to be the same amount as the statement balance.  So, for at least the upcoming payments that are scheduled they show up in the cash flow and I can make sure my checking balance isn't getting too low.

    Because the recurring transfers are very rough estimates, I can't really trust the cash flow graph beyond the next 1 month, but that's enough for me to track and see whether my checking balance is getting low this month.
  • davesawyer
    davesawyer Member
    It seems like having an “always paid in full” option for credit card accounts with an accompanying “paid from” account listed would allow for aggregating its activity with the related bank account given the credit card usage is actually more closely aligned with usage patterns of a debit card. 
  • umwi
    umwi Member
    +1 for adding the capability to schedule the full account balance as a recurring cash flow datapoint each month.
  • Flopbot
    Flopbot Superuser ✭✭✭✭✭

    I'd like this too! I follow this approach (click here) toward handling CC's in Simplifi and @scottnliz is right that you always end up spending half the month with a Projected Balance that is off. Personally, this doesn't bother me much since I know when to trust it and when to take it with a grain of salt. Once I enter the CC payment, the problem goes away and my Projected Balance chart is happy again till the next month.

    That said, if Simplifi could find a better, more integrated way to do this, that would be awesome!

    Quicken Desktop user since 2014.
    New to Simplifi in 2021.
  • EL1234
    EL1234 Member ✭✭✭✭

    I would absolutely like this! My credit cards are set to auto-pay on the statement due date. If I could tell Simplifi which checking account to use and have it automatically show it in the Projected Cash Flow, that would make Cash Flow a lot more useful :)

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭

    I personally pay off each charge typically within 24 hours of the charge being made [before it clears] (primarily to take advantage of rewards and credit card purchase protection)— but having a 'catch' (in case i haven't made a payment/forgot) would be useful, so I voted for this.

    Rob Wilkens