Explanation why transactions need to be based on Transaction Purchase dates instead of Posted dates

improvementneed

Please either let people choose, or enable for everyone the most accurate tracking that is based on banks Transaction-Purchase dates and not Posted dates. Many people seems not to know, why need it?

Example, person spent $5000 on December, 29, 2024, it will be shown within App for 2025 annual and for January 2025 month. And also person spent $10000 on December 30, 2025 - it will be calculated and shown for 2026 annual, and for January 2026 month. You get totally inaccurate totals, budgets,and calculations. Thus you will have for 2025 annual totals Plus $5000 from previous year, and not counted $5000 for 2024 year, and not counted $10000 for 2025 but will be counted toward 2026 year (and inaccurate totals for January 2025 and December 2025, also inaccurate December 2024, and January 2026).

The point of budgeting is accurate budgeting and accurate tracking, if based on Posted dates is not accurate.

For some banks, it could take up to 7 days for transaction to clear. So every month you will get extra transactions in totals at the start of the month from previous month, and you will get less transactions at the end of the month that will go toward totals for next month. And the same issues will be for every year - annual reports and tracking.

And for people who has businesses, for tax purposes, all tracking must be From Year to Year (January 1 till December 31 - real transaction-purchase date not posted date)

thanks

[edited title for clarity]

Coach Jon

Hello @improvementneed,

Thank you for the valuable feedback! We do have a great idea post you can vote for and follow that would allow you to display transactions by 'Transaction Date' rather than the 'Posted Date' you mentioned in your post. You can find it here:

https://community.simplifimoney.com/discussion/1788/display-transactions-by-039-transaction-date-039-rather-than-039-posted-date-039-edited

I hope this helps!