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Use of Simplifi with Amazon Store Card added to accounts

N4KHQ

I have been using Simplifi without my Amazon Store Card ever being added to accounts. Today I noticed when the auto payment was made the transaction was showing as an expense from my bank account instead of a transfer. No offsetting entry was being added. I added the account and assume the next payment will be recorded as an auto payment with a corresponding offset created. Is there any reason for me to make the corrections and create offsetting entries and transfers? I assume the only issue was Amazon Store Card balance not showing and if I exported transactions and the Amazon card would show double payment. Balance on Amazon Card is showing now and I see no reason to make the corrections. Does the group agree.

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Coach Aldair

Hi @N4KHQ,

Thanks for sharing those details! Now that you've added your Amazon Store Card to Quicken Simplifi, could you confirm whether the account balance is showing correctly?

Also, if possible, please share a screenshot of how the payment appears in Quicken Simplifi so we can better understand what you're seeing.

Thanks!

N4KHQ

Yes the account balance is correct.

Before I added the account, Simplifi was not creating the offsetting transaction

Coach Aldair

Hi @N4KHQ,

Thanks for confirming! Just to clarify, is the payment coming out of your bank account categorized as an expense, and is the corresponding transaction coming into your Amazon Store Card offsetting that amount, resulting in a net $0?

If so, you can keep the bank-side transaction categorized as an expense and use the built-in Credit Card Payment or Transfer category for the incoming transaction on the Amazon Store Card side to keep it neutral.

You can learn more here: How Do Transfers Work?

Thanks!

N4KHQ

Yes it is an expense is coming from the bank. I showed the only transaction above . Before the Amazon Card was added the was no corresponding transaction created.

Coach Aldair

Hi @N4KHQ,

Thanks for clarifying! Now that you've added your Amazon Store Card, you can categorize the incoming transaction on the card side using the built-in Credit Card Payment or Transfer category to keep it neutral, while leaving the bank-side transaction categorized as an expense.

This way, the incoming transaction won't offset the expense in your spending totals.

Thanks!