Moving from Mint to Simplifi and Transfers
I'm new to the group and Simplifi, I have posted few times but probably in the wrong category. I still don't understand the Community organization structure. I'm sure it has nothing to do with my age, intelligence, or failure to read. 😊. I switch from mint to Simplifi about a month ago. Apple won't allow Simplifi to be added, probably because Marcus, their bank partner, is leaving commercial credit and Apple will have to get another bank partner. However the import of the Apple card statements once a month is easy. Everything else in Simplifi has been superior or equal to Mint. Very glad Mint forced me to switch.
Importing mint transactions from 2009 until present was very easy but I made a big mistake. Simplifi handles transfers a little different from Mint. When you transfer money, for example, from checking to banking, your net worth does not change. To keep the books correct, Mint and Simplifi both create 2 transactions. One removes the money from your bank to the credit card and the other adds the money to your credit card from the bank. In mint they cancel each other. Simplifi uses specials transfers records that are hidden is reports. Just a note, There are times the apps can make the offsetting records, one example is paying a credit card bill with a check. You can easily fix the problem in simplify by changing the category of the check to the special transfer category Simplifi creates for the credit card and Simplifi will tell you itcan't find the record and offer to create it.
In my ignorance, I changed some of my transfer records category from the assigned to something like credit card payment. One wrong click and I change all with that Payee. Net Income went through the roof. You can change it back just as easy but it took me 4 days to understand what I did wrong and how transfers work.
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@N4KHQ, thanks for posting!
Based on your description, I'd suggest taking a look here for the steps to prevent Transaction Rules from being created and assigned to past transactions so this doesn't happen again on accident:
@Flopbot, those steps may help you out as well! Also, we have a support article that goes over Transfers that I wanted to share:
I hope this helps!
-Coach Natalie
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Simplify is working great now. I had a professor once that said "if you understand it, it is simple but if you don't it is difficult. Once I understood transfers it was an easy fix.
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Coach Natalie, Thanks for the link, I had read the first part which enabled to fix my mistake, with your posted, I read the complete link and learned about the built in categories of credit card payment and transfer. Good to know.
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