How best to track property value?

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System
System Administrator admin
edited October 2022 in Adding and Updating Accounts
This discussion was created from comments split from: Add Zillow to Track Property Value (2 Merged Votes).
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  • TommyMac
    TommyMac Member ✭✭✭✭
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    For clarification, I just want to know if I am doing this right.  I added a manual asset account with a starting value of my current Zillow home value (for lack of anything better). Once a month I look up my address and add a new transaction adding or reducing the value by the new estimated valuation. This allows my net worth to reflect the ups and downs accordingly. Is this the right approach?, is there a better way?
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
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    Hello @TommyMac,

    Thanks for posting your inquiry regarding property value to the Community!

    There are a couple of ways that you can manually update the value of an asset in Simplifi, and one of them is exactly what you described above. The other method would be to edit the "Opening Balance" transaction to change the total of that transaction to the current value. Both ways work great! More details on this can be found here. 

    I hope this helps!

    -Coach Natalie

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