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Ability to track IOU's from friends in accounts like Venmo/CashApp (1 Merged Vote)

amidzicigor

I'd like to be able to track transactions that have been compensated by friends through Venmo account.

Scenario:
I buy food for friend with credit card. Friend pays me back through Venmo.

I attempted to do this by marking the Venmo as a refund and assigning the food transaction to Uncategorized.
This won't work because you cannot track refunds from two different accounts. In my case, outbound is Capital One, inbound is Venmo.

Things to consider:
Typical friend-to-friend behavior is to either round up or down the IOU. $10.43 turns to $11.00 or $10.00.
Will have to keep track of partial/overflow pay-backs in that case.

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Gustavo

When paying on behalf of a group of people I’d like to keep track of who has paid me back. You can kind of use the “refund” feature for this, where you can link a debit card payment and the Venmo transaction from a friend paying you back. However, if I pay with a credit card and the Venmo transaction (from a friend) goes to my debit card then there’s no way of linking that as a “refund”.

No financial app does this at the moment, and it would really set Simplifi apart from others (especially for couples handling separate accounts but joint purchases).

Donni

I use an Accounts Receivable category, then tag with the name of the person who borrowed or repaid the money. Then I can search based on the Accounts Receivable category and the persons name for a total owed.

that_guy_jt

I frequently find myself tagging transactions as "Reimbursable" or (later) "Reimbursed". Every time, I have to write in the memo field who owes me for the transaction and what the transaction was for.

I need to do this for basically every transaction that comes through venmo, which is dozens a month.

I also find myself needing to reimburse some of my accounts from others, like when I make a business expense via a personal account, and need to remember to sort that out later.

It would save time to be able to mark any transaction as Reimbursable. When you flag it as reimbursable, you could enter the person or account that owes you. (These could be arbitrary text fields - "John F", "Cindy Smith", "My business savings", "Rainy day fund".) Then, you could just check it off down the line when you have received the reimbursement, which lets you know that the expense has been properly reimbursed and you don't need to worry about it anymore.

Bonus points if Simplifi could link the reimbursement to the reimbursable expense similar to the way that transfers are linked. And if you could report by your owed accounts (those arbitrary text inputs) to see which reimbursements are still outstanding and by how much.

JJo

I second this request, that would be VERY helpful:

"if Simplifi could link the reimbursement to the reimbursable expense similar to the way that transfers are linked"

Coach Natalie

Hello All,

The Community Support Team reviews long-standing Idea posts for relevancy and current interest. This Idea seems to have fallen stagnant and we would like to gauge the current level of interest in this request.

If you would like to see this Idea implemented, please add your vote and a comment explaining how this request would be beneficial for you. More details on voting for Idea posts can be found in our FAQ here.

Thank you,

Quicken Simplifi Community Support Team