Updating Manual Investment Account Balances (edited)

Dick_Davis

I have an investment (Roth IRA) account that I would like to manage as a manual account. This would be to update the balance at the end of each month with either an increase or decrease. My question is the best account type for an opening balance and then how to best adjust the balance at the end of each month. The reason for this is the bank is not allowing the connection from Simplifi as getting a FDP-103. Since I am only interested in the month’s end balance, thus why to have it as a manual investment account. See the sample below.

May 31 balance is $504,407.90 (begging balance)

June 30 balance is $140,662.29 (the amount of ($363,745.51) was removed and placed in an annuity.

July 31 balance is $143,970.62 (the amount of $3,308.33 was market growth for the month.)

Aug 31 balance is $147,626.75 (The amount of $ 3,656.13 was the market growth for the month.)

So, would a category need to be created to show the increases and decreases, but not show on the spend plan and reports. Thus, only the balance would be shown at the end of each month.

Thanks in advance.

DryHeat

@Dick_Davis

I have a 403b account that I put into Simplifi as a manual "Other" Asset account. Like you, I only need to see the change in balance based on market gain or loss.

I created an "XXX Gain" category as an Income account. Each month I enter the gain as a positive number or the loss as a negative number, both using the "XXX Gain" category. I exclude those transactions from the Spending Plan.

Dick_Davis

@DryHeat, I have used your recommendation and it accomplishes the objective as you stated and I see in my Simplifi reports. Thank you.