Account Names Listed on Spending Plan for Credit Card Payments

Ed Rizzolo · January 3

I like how the spending plan shows both sides of credit card payments and transfers, but I find the account name that is shown on each line to be very confusing. For example, if I pay a credit card out of checking, on the line with the negative amount it shows the credit card account name as outgoing, and on the line with the positive amount it shows the checking account name as incoming. In actuality, the checking account is the account going down (negative number, outgoing) and the credit card account is the account going up with the payment (positive number, incoming). Same thing when transferring from checking to savings, the "from" account looks like it is receiving money and going up, and the "to" account looks like it is sending money and going down. Is there a reason for this? If you could swap the account name shown it would be much more intuitive. Thanks.

UrsulaA · January 4

As a user, initially I found it confusing. I started thinking of it as follows: The transfer in my checking account going to a credit card is equivalent to an expense from checking, so it makes sense to me that Simplifi categorizes the outgoing transaction in the checking account with the credit card name as the category. Like listing groceries as an expense.

Similarly, on the credit card, the checking account is listed as the source of the payment. Like listing a paycheck as income.

More info: https://help.simplifimoney.com/en/articles/3352152-how-do-transfers-work

Ed Rizzolo · January 4

I am ok with it showing the credit card name, just seems like the line with the credit card name should show a positive number since money is moving to that account (deposits into a credit card account are traditionally shown as a positive number), and the line showing the checking account name should show a negative number since money is moving out of that account (transfers out of a checking account are traditionally shown as a negative number).

Ed Rizzolo · January 4

It shows as expected in the account registers, but doesn't show as expected on the spending plan.

UrsulaA · January 4

This is what I see for a transfer/payment to a credit card. Source account - checking. PNC points (expense)

Credit card receives the funds/income

I like how this works.

Ed Rizzolo · January 4

It gets even more confusing when the transactions come through and the lines are labeled with Sent and Received. The line that shows the account that sent the money is labeled Received, and the line with the account that received the money is labeled Sent.

Ed Rizzolo · January 4

Your screenshot is of the transaction detail which is as expected. No problem there. There the problem is how it shows on on the Spending Plan page even before a transaction comes through. Please take a screen shot of that page and I may be able to better describe.

Ed Rizzolo · January 4

Are you still there?

UrsulaA · January 4

OK, that helps - here is the screen I get for those. I find myself using the transaction list more as the spending plan transfers are moot for me.

Now I see your point. I agree - confusing. I wonder if this is a bug or a feature request we need to add. @Coach Natalie - thoughts?

It is like the screen in the spending plan needs to list the source and destination account next to the transaction. Now one has to click on each transaction to see the source account.

Transaction List.

Ed Rizzolo · January 4

That is exactly my issue! Thanks for sticking with me.

Ed Rizzolo · January 4

I would expect the first line to read "Sent, Checking, -$3.40", and the second line to read "Received, P&C Points Visa Credit Card, +$3.40".

Coach Natalie · January 4

Hey everyone, this has came up before (see here) and it's because you're seeing the Category, not the Account. For Transfers, the Category is the other account, which is what makes it confusing, but this display does fall in line with the rest of the Bills & Income section of the Spending Plan.

It doesn't look like anyone created an Idea post surrounding this design, or at least I'm not finding one, so I think the best thing to do at this point is to create one requesting that the Account also be displayed for the items listed in the Bills & Income section of the Spending Plan to avoid this confusion.

https://community.simplifimoney.com/discussion/998/creating-and-voting-for-ideas-in-the-community

You can also share your feedback regarding the Transfers bucket specifically here:

https://community.simplifimoney.com/discussion/4974/share-your-feedback-regarding-the-new-transfers-bucket-in-the-spending-plan-here

Thanks!

-Coach Natalie