Transfers & Cash Flow (edited)

fellucca
fellucca Member
edited February 18 in Bills and Income
This is so frustrating!

It seem that if I transfer money from a savings account to a checking account that the cash flow for the checking account does NOT include that transfer. THIS MAKES NO SENSE IF YOU ARE LOOKING AT AN INDIVIDUAL ACCOUNT! 

I understand if you are looking at cash flow which includes the accounts you are transferring from and to, but if I'm just looking at the account the transfer is going to then the cash flow has to include the money or else it's just wrong!

Can anyone help me solve this?

Thank you.
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  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @fellucca,

    Thank you for taking the time to post your inquiry to the Community!

    Would you mind clarifying what specific action you're taking in Simplifi for the 'Transfer' in question, please? Are you referring to 'Transfer' transactions? If so, these would not appear on the Projected Cash Flow graph, as the graph is intended to project into the future. The only exception would be if you're future-dating the transactions, as these would be moved into the 'Upcoming' section and would appear on the Projected Cash Flow graph accordingly.

    With that being said, when testing this on future-dated transactions using a 'Linked Transfer' I am seeing both ends of the transfer appear on the Projected Cash Flow graph for each of the individual accounts. Please see here for more details on using 'Transfers' in Simplifi. 

    Or are you referring to a Recurring Series that is set up as a 'Transfer'? If so, I am also seeing that using a 'Linked Transfer' for the Recurring Series setup shows the item on the Projected Cash Flow graph for each of the individual accounts as expected.

    Please let me know so I can best assist! :smile:

    -Coach Natalie
  • Thank you for the reply.

    What I am trying to do is see the cash flow in just my checking account. If I go to my savings account and set up a transfer for, let's say next week, from the savings to the checking account the cash flow is increasing the amount of the transfer in the checking account on the transfer date. Please let me know if I am doing something wrong.

    Also, it would be really, really helpful if the transaction screens had a running balance next to each transaction... like a check register. That would really allow me to get rid of Quicken.

    Thanks!
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @fellucca,

    Thanks for posting back!

    To clarify, how are you setting up the 'Transfer'? Are you referring to a Recurring Transfer, or are you entering a future-dated transaction? Are you using a 'Linked Transfer' or are you using the Category of just "Transfer"?

    Assuming that you're referring to a future-dated transaction and not a Recurring Transfer, I tested this by entering a future-dated transaction into my checking account using the Category of just "Transfer". Doing so appears to display the item on the Projected Cash Flow of my checking account only, as it is not linked to the savings account in any way without using a 'Linked Transfer'.

    In regards to a running balance, our Team has declined to add this ability; more details on the reason for this decision can be found here. I apologize for any frustration that this may cause. 

    Sorry I don't have better news for you, but I hope that this helps! :smile:

    -Coach Natalie
  • I am entering a transfer into the checking account and selecting as the category the savings account the transfer is coming from. So the transaction is accounted for appropriately in both accounts. Entering the transfer into just one account (which seem to be what you're saying?) with out referencing the other account means you have to remember to put the transfer into the other account? Seems like an unnecessary extra step? Plus, I need to see in each account which account the money is coming from/going to as I have several checking, savings, and credit card accounts. 

    As far as the running balance, I read the thread you indicated and I still don't understand. I imported all transactions from the opening of the account (which was quite easy). Not sure what that has to do with having a running balance. Essentially, the cash flow that the account DOES have is exactly that but it's not very practical to reconcile balances as you have to hover over each day to see the balances.

    I'm feeling more and more that this is not the replacement for Quicken that I was hoping it would be. But please let me know if you think I'm entering transactions incorrectly.
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Hello @fellucca,

    Thanks for the additional insight!

    That is correct, if you use the Category of just "Transfer" you would need to manually enter the transaction into the other account as well. However, using a 'Linked Transfer' for a future-dated transaction will show the item in the Projected Cash Flow chart of both of the associated accounts. With that being said, it's totally up to you on which option works best to meet your needs!

    In regards to a running balance, this is something that would be displayed in the account register at the end of each of your transactions telling you your balance after that transaction took place. This is something that would apply to existing transactions only. Conversely, a projected balance (which is what you see in the Projected Cash Flow chart) will tell you what your balance will be in the future after future items take place, and would apply to future items only. I may be misunderstanding what you're looking for, however, these balance options are two entirely separate features.

    Please let me know if you have any additional questions! :smile:

    -Coach Natalie
  • Ok I will try that and see what happens.

    Thank you for your help!
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