Hello,
I’m running into an ongoing issue with how Simplifi handles short-term CDs when they mature and close, and I’m hoping to find a recommended workflow.
Here’s the scenario:
I regularly open short-term CDs (for example, 3–5 months). When the CD matures, the full balance (principal + interest) is automatically transferred into my savings account, and the CD account is closed at my bank.
The problem is that once the CD account is closed, Simplifi no longer shows the CD as the source of the transfer. As a result:
- The savings account just shows a single deposit for the total amount received.
- The transaction is categorized incorrectly (since there’s no longer an active CD account for Simplifi to recognize as the transfer source).
- This breaks the transfer linkage and affects reporting.
I’ve tried to work around this by manually creating the transfer before closing the CD account. However, that introduces another issue:
- The CD balance shown before closure does not include the final interest payment.
- When the CD closes, the actual amount deposited into savings is higher due to the interest.
- This leaves a mismatch between the manually created transfer and the actual deposited amount, so there’s always a difference that has to be reconciled.
I am eventually able to fix this with a lot of manual work (closing the cd acct in the software, adding a 'Transfer' Transaction, etc.).
Has anyone found a reliable way to handle this workflow in Simplifi? Or is there a recommended best practice for CD maturities that I’m missing?
It would be great if Simplifi could preserve the CD account long enough to properly record the closing transfer.
Thanks in advance for any guidance or insights.
