Problem with the Net Worth Report and Investment Accounts (edited)

DEA3 Member ✭
edited October 2023 in Using Reports

I am trying to use the Net Worth Report but having problems including my IRA and Brokerage accounts. If I don't exclude them from reports, the balances show up in the Net Worth Report BUT all the various transactions internal to the investment accounts end up as transactions under the Uncategorized Category and thus mess up the Spending Reports. Simplifi needs a way to include the total balance in investments accounts without including the transactions. It I chnage the accoutns to not be included in reports, the transactions are not included in spending but the Net Worth is incorrect. Any solutions to this problem??

Best Answers

  • DannyB
    DannyB Superuser ✭✭✭✭✭
    edited July 2023 Answer βœ“


    The answer to your question is, in essence, that you will need to edit all your investment transactions to make sure they are categorized correctly. Otherwise, right now, as far as I know, there is no way to include you investment account values in the net worth report without all the transactions being brought into your spending plan. @Coach Natalie will be along at some point and can give you more details and point you to some support articles that will show you how to deal with investment accounts and transactions so they don't negatively impact your spending plan.

    When Simplifi added the transaction functionality to investment accounts a few months ago, I experienced what you are describing above. I spent the first month or so trying to get everything squared away with the help of @Coach Natalie , by trying to make sure all my investment transactions were categorized correctly so they wouldn't show up and mess up my Spending Plan. In the end, the benefit, if any for me, just wasn't worth the work. I didn't want to mess with these accounts everyday which is what I'd have to do or at least weekly, let alone finish editing the backlog. In the end, I simply excluded all my investment accounts from repots and the spending plan. Like you observe, this gives a "false" reading for my "Net Worth" report which now includes ONLY Real Estate and a few other high value assets but, in Simplifi, I can still see my net worth at the top left of the Dashboard in the web app, or by swiping through the cards at the top of the dashboard in the mobile app. This isn't an over time view, but it is today's value including my investment accounts.

    If I want a Net Worth over time report I can easily log into my financial manager's website and see everything I need, including all daily details, without having to do the work of manually editing every transaction. For me, though what goes on in these accounts is important, these accounts don't really affect my day-to-day finances and thus I don't really need to see the details in Simplifi.

    Simplifi user since 01/22
    ”Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Answer βœ“

    Hello @DEA3,

    Thanks for letting us know about the new issues!

    Yes, we are aware that excluding an account from Reports is not actually excluding the transactions. We are also aware that even when an account is included, the eyeball still shows under Settings > Accounts. These items are expected to be fixed in the next Web Release of 3.84.0. πŸ™‚

    -Coach Natalie


  • DEA3
    DEA3 Member ✭

    Thank you for taking the time to respond. I did consider manually processing all transactions but like you I decided the time wasn't worth it and am now using the same approaches you mention. But on the other hand it would seem too hard to the programmers to add an option to exclude all investment transactions for the spending plan. You can actually do that transaction by transaction in the investment accounts but again, that is too labor intensive and there is no way to do a group edit to set many transactions at one time.

  • DEA3
    DEA3 Member ✭

    One reason I would like the Networth to work as I hoped is that I hold accounts such as 529s for grandkids that I don't want to see in my networth. There are work arounds but why not have the option you and I are mentioning? Are any Simpifi folks listening?

  • DEA3
    DEA3 Member ✭

    The problem continues in new ways. Marking an accounts excluded from reports is NOT excluding them from Net Worth report in Web ver or the iOS version. Until today it was excluding them in iOS version but no more. Please keep workign on this to get it right.

  • DEA3
    DEA3 Member ✭

    AS of 9-2-23 the exlude symbol and the setting under three dots are consistent, BUT the transactions in accounts with both checked are NOT being excluded from the Net Worth Reports or the Spending reports.. What is the status of this fix?

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