Move Recurring transactions to their appropriate accounts to track accurate balances [edited]

cwebbs60
cwebbs60 Member
edited September 2020 in Feature Requests

Move recurring transactions to their appropriate accounts in order to track accurate balances. I'd rather not be surprised at a balance once a transaction has match vs one than I know is anticipated, but not accounted for in the actual account.

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  • Specifically, move them to their appropriate accounts on their due dates.

  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭

    @cwebbs60 Thanks for your comments. If I understand your concern, you'd like any recurring transaction listed as recurring to be removed from the calendar list on or immediately after its due date, whether or not Simplifi correctly matches it to a downloaded transaction, rather than staying in "Waiting" status. Would that address the issue you're raising here?

  • Well, for accounts that were manually added, Simplifi won't be able to match any downloaded transaction, so those recurring or pending transactions just get stuck there showing as "waiting". So my suggestion is that once the due date hits, it should move that transaction to the appropriate account, but still show as pending until it is manually cleared or Simplifi can match it.

  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭

    That makes sense. Another way to handle that would be to move that kind of transaction into the account once the due date passes, but put a different flag on it than "pending" or "waiting," to alert the user that it is still "unreconciled." Thanks for the suggestion!

  • The only way I've found to do that is to delete the instance under the "Upcoming" transactions list, then manually enter them into the appropriate account, which defeats the whole purpose of the recurring bill feature. Maybe I'm missing something, but I don't see other way to do it. When I enter a future transaction into an account I added manually, it automatically goes into the upcoming transaction list, so unless I enter it the day of, it gets stuck there. Another option, which would help me and potentially other users out, is to add Varo Money and Discover Loans to the list of connected accounts, and it would make this suggestion moot.

  • Coach Nicole
    Coach Nicole Administrator, Moderator admin

    You are correct @cwebbs60 -- the only way to enter the recurring transaction into the register on a manual account is by deleting the instance from the Upcoming list and manual creating the transaction in the register. Simplifi is intended to be used with connected accounts, not manual accounts. So, by design, it is meant to match the recurring transactions to a downloaded transaction. At which point the transaction is moved into the register. If you intend to use manual accounts, Simplifi might not be the best option, unfortunately. However, we do appreciate your feedback! Thanks! :smiley:

  • :( Well that's a bummer. I really love the interface and navigation. I was hoping this would be my alternative to using Quicken, which is very clunky software. Thanks for listening to my suggestion though. Maybe you could include it in the future.... :)

  • I have just begun using this application (in Canada) it seems to be working just fine . . . with a couple of notable irritating items. In this category "Recurring Transactions" I cannot seem to find a way to save the necessary "Splits" that I want to record each month. i.e. Mortgage pmt includes: Credit - Bank Account (Asset), Debit - Mortgage Payable (liability), Debit - Mortgage Interest (expense), Debit - Mortgage Insurance (expense). So fare I need to edit this "auto entry" each month . . . not exactly automatic.
    In a tangentially related category, once I have the entries tagged and edited appropriately how does one extract a specific P&L between specific dates for a specific tag?

  • Coach Nicole
    Coach Nicole Administrator, Moderator admin

    Hi @mikeL -- Welcome to Simplifi! Currently, we don't offer the ability to add a split to a Recurring transaction. Once the transaction is downloaded and matched, you can update it as needed. However, we've had other users request a similar ability. I recommend checking out our discussion Using Splits (Multiple Categories) in Recurring Transactions and cast your vote to see this added.

    Regarding a P&L, we don't currently offer this as an available report. However, if you've tagged each transaction, you can run a report based on those tags or categories through Insights > Income by Tag or Insights > Spending by Tag. I hope this information helps. Please let us know if you have any further questions. :D

  • @mikeL said:
    I have just begun using this application (in Canada) it seems to be working just fine . . .

    Are you able to connect to Canadian banks?