Let Me Categorize and Organize My Accounts List However I Like [edited] (10 Merged Votes)

SRC54

I would be happy if they could move the credit card accounts after savings accounts.

RiversideKid

https://community.simplifimoney.com/discussion/comment/49831#Comment_49831

Credit cards are hardly an asset. The ONLY reason I can see that they would be in the banking section is so that someone could see a current total for budgeting purposes that shows the credit card debt minus the checking/savings balance so that this "never" goes negative for budgeting. Realistically though, credit cards are a liability in the same way that a mortgage or car loan is a liability. I have always taken loans out from banks so using the Simplifi logic they should be in banking as well. Please don't tell me that I'm overthinking, I already know that. 😁

SRC54

@RiversideKid 😀Yes, I see your logic. In Classic, they are in banking but after Savings Accounts, and I prefer it that way. Logically, they should be with loans, but most people don't use them as loans. And many of us pay them off each month so they are banking accounts. And a lot of people nowadays use them as checking accounts and charge everything!

I hated doing that because I was always paying off last month's expenditures this month!

danielwhite8425

It would be helpful to be able to (at a minimum) set the default account folding behavior. When there's a large mix of multiple Businesses and Personal accounts sorting through the list when I want to go to a particular space (business vs personal) would be helpful. Additionally it would be nice to be able to specify the account list order (or at least know how the sort order numeric/alpha?).

DryHeat

@RiversideKid "credit cards are a liability in the same way that a mortgage or car loan is a liability."

True… And you could also say "Checking and savings accounts are assets, like houses or cars." But there is a difference.

Bank accounts and credit cards are considered "current assets" (fairly liquid) and "current liabilities" (fairly short term), respectively. They are often presented together because they relate to your short-term financial situation. To me, anyway, it makes sense to see them laid out like that.

But I agree that if you want to rearrange them you should be able to do so. Whatever makes sense to you is good.

FWIW, descriptions of the terms current assets and current liabilities can be found here:

https://www.investopedia.com/terms/c/currentassets.asp#toc-current-assets-vs-non-current-assets https://www.investopedia.com/terms/c/currentliabilities.asp

RiversideKid

https://community.simplifimoney.com/discussion/comment/49893#Comment_49893

Thank you for supporting my point, even if I did not spell it out clearly. Just as in accounting there are often several different acceptable methods for categorizing an expense, as long as the method is consistent, there are different ways that individuals may want to categorize their accounts in Simplifi. Some may want a strict asset/liability and others may want short term/long term sections. Personally, I would like a section for closed accounts that I keep around strictly for the reporting capabilities, but that is just me.

DryHeat

@RiversideKid "I would like a section for closed accounts that I keep around strictly for the reporting capabilities"

That's a very good idea and I think you should propose it as a change to the system. I would vote for it.

Like you, I used Quicken Classic for a long time and I could elect to have accounts show up in reports but not clutter up the regular Accounts list. I'd like to be able to do that same thing in QS.