When Simplifi's and the Bank's Balances Differ?

Mortimer Duke

The balance Simplifi reflects for one of my savings accounts differs from the balance the bank reports.

Last week, I made a $2,000 cash withdrawal. Upon discovering I didn't need the cash on hand, I redeposited the funds on the same day which the teller inadvertently deposited into my checking account (no big deal).

The bank's online portal shows exactly what I expected, a $2,000 savings withdrawal and $2,000 checking deposit on the given day - which Simplifi detected and categorized as a transfer. However, Simplifi shows an additional $2,000 withdrawal transaction on the same date which is causing the balance in Simplifi to be $2,000 less than it actually is.

What's the proper remedy for this? Is there a way to have Simplifi reload the bank's transaction data and hope the superfluous withdrawal transaction disappears? I know I could delete the additional withdrawal within Simplifi, but I've always tried to avoid manually intervening in data that's otherwise populated automatically.

Many thanks in advance for any helpful advice.

SRC54

Just delete the pending $2000 withdrawal (the one that isn't a transfer to Checking). At this point, it won't get deleted on its own.

It appears that this transaction was pending but never got cleared (Simplifi cleared the transfer) so that is why Simplifi is subtracting it from your Savings balance.

Another thing that would work is to go to your Savings transaction list in Simplifi and choose the erroneous withdrawal and then the correct transfer and merge them. Note: merging doesn't always work so easiest thing is to just delete the extra transaction.

Here's a support document that gives you all the details:

https://support.simplifi.quicken.com/en/articles/4901071-how-to-resolve-duplicate-transactions

Let us know if you have more questions.