Why am I not able to change Investment subcategories to an income type?

allentguti
allentguti Member
edited April 2020 in Investments

This is my first day using Simplifi after giving up on my Quicken for Mac software (too many issues), bought a Quickbooks subscription, went back to Quicken, then tried Mint, and now here I am - all in about a 48 hour time frame.

My questions is in regards to the Investment category. Not all of the sub-categories are expense types but rather income types and I am not having any luck changing them to an income type. I suppose I could add sub-categories to the Personal Income category for investment income but I would prefer they remain as an Investment category with an ability to change the sub-category type. I should be able to track investment income. I compared this to Quicken and it seems like this is a huge oversight on the part of Simplifi. Am I missing something?

Answers

  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭

    @allentguti Thanks for your comments. The solution that occurred to me was to create new income subcategories under Investment, and just make sure to add a plus sign to the totals if they still come in as negative amounts. Would that work for you?

  • allentguti
    allentguti Member
    @Coach Tappan I am not able to create new income sub-categories at all. My attempts to do so all default to an expense type even after attempting to make them income types. That is the issue at large. I could add a plus sign to every single invest income type but that's an extra key strokes and for a person who counts key strokes and clicks, it's an extra step that isn't needed in other budgeting software. In addition, this doesn't help the reporting function. If at the highest level the software is categorizing it as an expense type, reporting is going to be affected.
  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭

    @allentguti I see your point. I'm going to test this myself, to make sure I understand the limitations, and then share it with the development team to see if we can find a fix. Thanks again.

  • allentguti
    allentguti Member
    I appreciate it. You'll notice that all of the default and pre-existing investment income sub-categories have income in their title but their type is an expense. Attempts to change these to income types will not occur because the high level investment category is itself an expense type. I'll think you'll quickly see what I mean.
  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭

    You're right. Even the subcategories that have "Income" in their descriptions come in as negative numbers! We definitely need to work on that.

  • Coach Tappan
    Coach Tappan Retired Coach ✭✭✭✭

    So, I have a partial solution to your problem. It turns out that the default "sign" of Subcategories (whether they are automatically positive or negative by default) is controlled by the classification of the Category they belong to -- either "Income" or "Expense," as you discovered. But that classification can be changed in the "Categories and Tags" tab of the "Settings" menu, even for pre-set Categories like Income or Investments. But it might be a better solution for you to create a new Category called something like "Investment income," and set the classification to "Income," then create Subcategories under that new Category that are only for "money in." You could change the default for the existing Investments Category, but you might want to use that for debits to your investments, if you have any. I hope this gives some options you can use to do what you want it do.

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