Share your feedback regarding the Net Worth Report here!

Coach Natalie
Coach Natalie Administrator, Moderator admin
edited December 2023 in Feedback

We are so excited to announce that the Net Worth Report has finally made its way to the Simplifi Web App for Early Access users!

This Report shows your net worth over time based on historical account balances, including investment, loan, and asset accounts. If you'd like to ignore an account from the calculations, you can easily do so at the account level by ignoring the account from Reports, or you can also use the Filter options available in the Report to only select the accounts you want to see.

While you familiarize yourself with the Net Worth Report, we'd love to hear any feedback you may have to help us improve. Good or bad, we appreciate hearing from you!

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Comments

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭
    edited March 2023

    This is not a problem for me, but i'm curious: In your 'new feature alert' you said you could get the balance on any particular past day — from what i'm seeing the report is by month (which is still terrific) — I just want to make sure i'm not missing how to alter the breakdown of the chart/data.

    Again, totally cool with by-month, but if there is by-day or other options, would love to experiment.


    Rob Wilkens

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin

    Great question, @RobWilk!

    The way that I was able to view by day is by using the "This Month" or "Last Month" Date Range option (or using a custom date range that covers less than a month). 😉

    -Coach Natalie

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭

    Thanks! I'll check that out.


    Rob Wilkens

  • ajbopp
    ajbopp Superuser ✭✭✭✭
    edited March 2023

    In my report, my investment accounts and my "Home" account (where I track property value) are available to be filtered on, but no data from those accounts is actually pulled into the report. It only seems to include banking accounts.

    Anthony Bopp
    Simplifi User Since July 2022, not an employee, not an influencer

  • micwise
    micwise Member ✭✭

    My report is pulling in two vehicle debt accounts that have been paid off, closed and show a value of $0 in the account but appears to pull into the report the last value before the account was closed and paid off to $0. This show my debt as higher than it actually is.

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭

    @micwise Someone somewhere said you can mark accounts to be hidden from reports which hides them from the net worth report too. That's in account settings i believe.


    Rob Wilkens

  • micwise
    micwise Member ✭✭

    @RobWilk Thanks, that does keep them from showing up though I would expect accounts marked as closed and a balance of $0 to be reflected correctly in reports even if not hidden.

  • ajbopp
    ajbopp Superuser ✭✭✭✭

    Never mind…I forgot I had those accounts set to Hide under settings. Might still be a nice tweak to not display hidden accounts to be filtered on.

    Anthony Bopp
    Simplifi User Since July 2022, not an employee, not an influencer

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭

    The 'hide account' option which I think they're working on probably should handle that.


    Rob Wilkens

  • Chrobrego
    Chrobrego Member ✭✭✭

    It looks good. It does what it should. Great job. Now just get that 'Refund Tracker' thing out of there. Why would I go to 'Reports' to enter an upcoming credit to an account? It doesn't make sense and is confusing — at least to me. I should be able to do that from my registry for the individual account I'm working with.

  • altChristopher
    altChristopher Member ✭✭✭
    edited March 2023

    It does the basics, so I would focus on other things and not waste time on anything else in this report. Other things in the forum would likely generate more subscribers than fine-tuning this.

  • Interesting that the report dosn't match the net worth calcuation on my dashboard. Looking at it I can see the report has inccorect values for our morgate, but the dashboard does display the correct value.

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭

    Are any of your accounts set to hide from reports? That might explain if so.


    Rob Wilkens

  • nanoviking
    nanoviking Member ✭✭

    Seems like a no-brainer feature- just add up totals of all accounts and track. Easy. Done.

    Does net worth help me budget? Nope. It's not even that useful unless all my assets are accounted for in Simplifi (they're not).

    Other features would provide greater value to the userbase (like ability to rollover excess spending plan dollars to next month budget or setting long term savings goals that automatically interact with transactions).

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭

    Rolling over excess spending is a no brainer, but of little value. How difficult is it to add last month's remaining to this month's budget. It's just not useful, and as transactions get hidden from spending plan - i wind up with a budget that is thousands of dollars more than i actually have.

    This net worth report is great and a picture of financial health - which is not to say bigger numbers are better, but if it's going up month to month it's better than if it's going down month to month.

    -Rob


    Rob Wilkens

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭

    Heck the net worth report is the ULTIMATE roll over budgetting tool, because if you factor in all your deposits and withdrawals from the beginning of time, your roll-over budget amount remaining WILL BE EQUIVALENT TO YOUR NET WORTH.


    Rob Wilkens

  • Charles Collins
    Charles Collins Member ✭✭
    edited April 2023

    Is this report only available to early access users at this time? Now if you could get this report to format as a P&L on the bottom part of the screen as a text report like you do in Quicken for Windows so I can use with my accountant for preparing taxes, I would be set. I'm thinking of going back to Quicken for its reporting capabilities but really don't want to for many other reasons. 😎

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin

    The Net Worth Report is now live on the Mobile App for Early Access! Let us know what everyone thinks!

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭
    edited May 2023

    Negative net worth months overwrite month labels on mobile

    [edited image to reduce size]


    Rob Wilkens

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin

    Thanks, @RobWilk!

    A ticket was filed for this. 🙂

    -Coach Natalie

  • cdorsi
    cdorsi Member

    I'm excited to see this see this addition! I've been using another app just to track net worth trend. I'd love to be able to see a breakdown by account and/or account type (view all accounts, but color code them). Also, it would be more useful to have a date range option of last 12 months than this year or last year. I like to view a net worth graph of "all time"… it gives a lot of confidence to see progress. This is not an option, and my largest account was not available in Simplifi for the first several months that I used it, so just selecting all time would actually not be useful in this case. I'm constantly forgetting when that major account was added for custom date ranges in multiple views. I'd really like to be able to select a start date for an "all time" view that would be remembered every time I view that graph (really for any graph, not just net worth). i.e. have an "all time" option in the date range drop down, but once selected, allow the start date to be adjusted, then remember that start date so that whenever i select "all time" in the future, I see everything from the start date I had previously set to the current date.

  • bowgy4
    bowgy4 Member ✭✭✭✭

    None of my manual accounts are showing up in the report. I have a manual "Historical Net Worth" account that I used to just pull in my monthly +- Net Worth from Quicken so I could track my metoric rise :) I just ran the Net Worth report for the last three years (which is as far as it will go) and it showed a zero balance before late 2019 when I originally setup Simplifi.

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin

    Thanks for sharing your feedback, @bowgy4!

    The Net Worth Report starts tracking data from the day/month the accounts were added to Simplifi; it doesn't go back as far as transaction data.

    Is this what you're seeing?

    -Coach Natalie

  • bowgy4
    bowgy4 Member ✭✭✭✭

    Yes, that is what I'm seeing. I would argue that's not intuitive nor desired. Any report in the system should reflect all of our data in the system.

  • The net worth report is missing my investment accounts. For assets, only cash/checking, savings, and real estate are being pulled in. If I click filters and check the box for an investment account, it shows my net worth as $0. Could someone take a look? Thanks!

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    edited July 2023

    @bowgy4, I think it's because the Report uses historical account balances, which aren't necessarily determined by transactions. At any rate, you can add your vote and feedback to our existing Idea post requesting that the Net Worth Report start tracking balances from the date of the opening transaction. 🙂

    @ConversationSix, do you have the Investment Accounts ignored under the Settings menu, by chance?

    https://help.simplifimoney.com/en/articles/5160316-how-to-ignore-accounts-from-reports-and-the-spending-plan

    -Coach Natalie

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭

    Don't know if someone already commented on this…

    If I set a >7 month range such as:

    Below the chart it shows (here) 7 months worth of net worth:

    (Yes, the last 3 months it's been flat)

    My concern is, is there a way for it to show months for the entire range reported on?

    One effective way to do this might be to use the side-scrolling box used in the upcoming area below cash flow on accounts.

    As it works, it's still good, but this would be 'nice' to have.

    -Rob


    Rob Wilkens

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭
    edited September 2023

    Can I re-emphasize that the net worth report being by-day (or smallest reasonable interval) would be nice even on a multi-month report. Below I'm showing what net worth would look like day by day as opposed to what simplifi shows which is month by month.

    Before i continue, yes, i don't have much money.

    For example, Chase gives me a net worth for the past 90 days, broken down by day (Chase's net worth at the bottom right is different than the net worth on the top left, and it's not clear why, but the bottom right one comes closer to matching simplifi on next screen; I'm not going to ask Chase until i know the other simplifi bug with them is fixed):

    Simplifi shows me for the same period:

    I will note the date range is jul 1 - sep 5, and if you look the first date on chart is Aug 1


    Rob Wilkens

  • I just came over from Mint and it would be great if there was a way to adjust historic net worth so I don't lose all that history. I dont even want historic balances for certain accounts - just a top level ability to manually adjust net worth would be enough.

  • rowshkex
    rowshkex Member

    Please add net worth history to the reports, including both top level net work AND account-specific net worth history! As it stands my net worth in Simplifi is accounted for starting the month I added the account.

    I don't want to lose a decade of my mint history, and this would seal the deal on sticking with Simplifi long-term. Other apps/companies are doing this, so there shouldn't be a reason this could not be added to Simplifi!