Why are pending transactions doubling the balance?

Ulysses

I had $34 direct deposited in an account with a previously $0 balance. 

The direct deposit is currently pending.  Why does Simplifi show the balance doubled as $68? 

I do not have "Balance with Pending" ticked off for any of my accounts, including this one.  This account is a brokerage account at Fidelity.

Coach Natalie

Hello @Ulysses,

Thank you for posting to the Community regarding this issue, although I apologize that you're seeing a balance discrepancy in Simplifi. 

If Simplifi is double-counting pending transactions, you'll want to navigate to Settings>Accounts, select the three-dot menu for the account in question, select "Edit account", check the box for the 'Balance with Pending' option, and then click "Update". 

Once done, you'll need to wait 4-6 hours for the next successful account refresh to see if making this change resolves the balance discrepancy. More details on how Simplifi calculates your balance, as well as the 'Balance with Pending' feature, can be found here. 

As a side note, the verbiage for this feature is really confusing and differs between the account-specific setting and the all-accounts setting. I find the tooltip for the account-specific setting particularly confusing, which is where it mentions setting it to off. I've reported this to the Team, and they plan to address this at some point in the near future. 

Please let us know how it goes!

-Coach Natalie

Ulysses

This seems to have worked.  Thanks Natalie!

RobWilk

Because the balance Simplifi is getting from the bank includes the pending transaction and then Simplifi is applying pending transactions to that balance.  There may be a “balance with pending” option or similarly worded that you can toggle in account settings for that bank.  That option tells Simplifi pending is in your banks reported balance or not.  Edit .. it could take five hours after changing for it to update

Ulysses

But the "balance with pending" help says "set this to OFF if your pending transactions are double counted" - so I have it off.

RobWilk

Then maybe off is right

RobWilk

Is your transaction matched to a bank transaction (says “appears on your statement as”)… if not, I have a similar issue with chase syncing on non bank days (weekends, holidays)

Ulysses

This transaction is not matched to any other bank transaction.  It's a direct deposit from a third party.