Incorrect balance on credit card account (edited)

Wolsen

Good morning - I noticed today that I accidentally paid my CC balance twice which then incurred a negative balance, I plan to just roll with it.  Looking at Simplifi, I see that the projected cash flow (not referring to the actual projection) still aligns with the banks including pending transactions, but the balance does not.  Doing the math, the balance seems to hit a floor of $0 and then adds the pending transactions.

Tried to find a similar post on this but could not - will the balance realign overtime with the bank once the balance has gone above $0 or have I just introduced a permanent offset?

Coach Natalie

Hello @Wolsen,

Thank you for reporting this issue to the Community, although I'm sorry to hear that you're seeing a balance discrepancy in Simplifi.

Simplifi gets your balance directly from the bank for connected accounts; Simplifi then deducts any 'pending' transactions from that balance. We have some Support Articles that go over how balances work in Simplifi and balance discrepancies available here and here. 

With that said, is it possible that the balance sent in by the bank already includes pending transactions and Simplifi is double deducting them? Also, have you tried simply signing out of Simplifi and signing back in, by chance? Sometimes signing out and back in can clear up any balance discrepancies. 

Please let us know how it goes!

-Coach Natalie

Wolsen

Hi Natalie, thank you for the suggestions.  Again, it seems it may be user understanding error.  What I was latching onto was the fact the Cash Flow was indicating a negative value, where the balance was positive - and it also happened to be where the pending transactions were JUST about half the of the banks balance (and I ignored the cents).  Pending was $588.87, and the reported balance in Simplifi was $588.52 vs the banks $(-)1,177.39.  All the numbers align.

Between myself missing the cents place, and not recalling that balance and cash flow have inverse signs, I thought there was an error.

Thanks again for your support here!

Coach Natalie

Hello @Wolsen,

To clarify, the balance in the upper right corner of a connected account should match the bank: 

In your case, I added the two numbers that you provided above together and I get $1,177.39. This leads me to believe that your bank may already be including pending transactions in the balance they send in, and Simplifi is double-counting them. 

To resolve this, you'll want to enable the 'balance with pending' option for the specific account under Settings>Accounts. The steps to do so are available in this Support Article under "You can also do so for each of your accounts individually". 

Once you've checked the box to not subtract pending transactions when calculating the balance, you'll want to wait 4-6 hours for the next successful refresh to determine if it resolved the balance discrepancy.

Please let us know how it goes!

-Coach Natalie

DannyB

Hi @Wolsen

It seems that eventually your Projected cash flow for this cc will catch up with your double payment at some point. In the next day or two one of the coaches will respond to your question and I'll be interested to see what they say. 

I am surprised you were able to make a double payment. The banks I have cc's with won't let me pay more than my actual balance even if I have pending transactions.  

Wolsen

I set up auto payment last month, but obviously had forgotten and then scheduled a manual one too, at least now I'll remember that I set it up.

I'm not too worried about the balance as it is accurate on the bank's site, no loss in funds - I guess just overly nice this month to the bank.