Net Income Report: monthly income, expense, and net income totals displayed on screen simultaneously

Bread01
Bread01 Member ✭✭
edited February 7 in Feature Requests

I just moved over to Simplifi after 12 years with Mint. The Trends>Net Income>Over Time for the last 12 months was the most important and useful report for me and is something that doesn't exist here in Simplifi, and is something I would like to see. This report displayed net income details on screen simultaneously in a summary table, including details of total income, total expense, and total net income for each month. Having a button to quickly see the last 12 months is very helpful and convenient as it is the most important time frame for me. It lets me easily know if I have a net savings over the last 12 months or not, and approximately how much, and which months. Having to mouse over graphs in Simplifi with the current net income report only let's me see one month's of data at a time, which is significantly less useful when trying to understand income and expense trends and patterns relative to net income.

Simplifi User Since February 2024

Mint User Since 2011

User Type: Monitor Net Income and Grow Net Worth

9 votes

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Comments

  • UrsulaA
    UrsulaA Superuser ✭✭✭✭

    Good news! This request already exists and has about 20 votes. Vote for it below. Requests with more votes are more likely to be considered for implementation.

    Simplifi User Since Nov 2023

    Minter 2014-2023

    Questionable Excel before 2014 to present

  • Bread01
    Bread01 Member ✭✭

    Thanks UrsulaA, but that request is not the same. There is no reference to a summary table with totals in the other post. Simplifi already has a Net Income report with a line overtop for net income, but it doesn't offer the level of detail in a summary table that Mint provided and that I find very useful. The monthly bar graphs with detailed data (e.g., total monthly income/expense/net income) only being visible on screen one month at a time (by mousing over each monthly bar graph) in the Net Income report isn't good enough.

    Simplifi User Since February 2024

    Mint User Since 2011

    User Type: Monitor Net Income and Grow Net Worth

  • UrsulaA
    UrsulaA Superuser ✭✭✭✭

    Now the request is clearer and should be separate.

    Simplifi User Since Nov 2023

    Minter 2014-2023

    Questionable Excel before 2014 to present

  • Bread01
    Bread01 Member ✭✭

    This is an example from Mint of the summary table I am asking for in the request above. It is important to me because I mainly used Mint for over 12 years to monitor and track my net income over time and I am hoping to do the same with Simplifi. I never have used other budget tools and don't intend to start. One of my primary goals is to increase my net worth over time and to do that it is very important to make sure I have positive net income over the past 12 months. Monitoring and maintaining positive average net income over 12 months is one of my primary ways to achieve this goal and this type of 12 month summary table let's me easily know where I am in relation to those goals and quantify exactly how successful I am.

    Simplifi User Since February 2024

    Mint User Since 2011

    User Type: Monitor Net Income and Grow Net Worth

  • UrsulaA
    UrsulaA Superuser ✭✭✭✭

    I noticed an interesting gif in the support link, which will fulfill this request.

    https://help.simplifimoney.com/en/articles/4592676-using-reports-in-quicken-simplifi#h_34f1373566

    The GIF for the net income report allows a graph and table, graph, and table view.

    In my Simplifi web app site, I only see the graph view with no options to change to graph & table, graph, or table.

    Can we bring the chart options back as shown in the gif above?

    Simplifi User Since Nov 2023

    Minter 2014-2023

    Questionable Excel before 2014 to present

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin

    @UrsulaA, I'm not sure where that design came from, as I'm not aware of any plans to add these features to the Net Income Report, nor have they ever been there in the past. The artcile will most likely need to be corrected.

    Thanks for pointing this out!

    -Coach Natalie

  • UrsulaA
    UrsulaA Superuser ✭✭✭✭

    bummer 😥, I like the choices for graph, graph and table, and table. Let's leave the gif here to expand on the feature requested on this discussion.

    Simplifi User Since Nov 2023

    Minter 2014-2023

    Questionable Excel before 2014 to present

  • Oleksander
    Oleksander Member ✭✭

    I like the different view options. It's strange that the gif exists but the feature never did… It would be nice to be able to choose Mint's vertical stacking of income/expenses, too.

    Also, there definitely needs to be a "past 12 months" option in the date ranges. It's the primary range I want to look at in most circumstances. Is there a separate feature request for that?

  • UrsulaA
    UrsulaA Superuser ✭✭✭✭
    edited February 21

    Simplifi User Since Nov 2023

    Minter 2014-2023

    Questionable Excel before 2014 to present

  • Bread01
    Bread01 Member ✭✭

    @UrsulaA

    Thank you for sharing. Nice find, but extremely disappointing that it was too good to be true.

    @Coach Natalie

    Reporting of summary net income in a table is just basic finance & accounting 101. It may not be a feature most people want, but it is a feature most people need to effectively manage their money. I have used it with Mint for over 12 years to great success.

    There is little hope this feature will ever garner enough popular votes to be implemented. The majority of people focus on budgeting and cash flow management, so these will be the types of features that get the most votes. Using popularity alone to decide on requested features is a flawed business approach. Before Apple launched the first iPhone, they didn't just include product features that were popular and demanded. They also gave consumers useful features they didn't realize they needed. This requested feature falls into the latter category.

    Simplifi User Since February 2024

    Mint User Since 2011

    User Type: Monitor Net Income and Grow Net Worth

  • Bread01
    Bread01 Member ✭✭

    Update: I found a workaround using other existing features of Simplifi to meet my needs. While inconvenient and time consuming, at least it is possible to do and is adequate for my needs. The Transactions tab allows me to export my data so that I can recreate my own Net Income Statement by month in MS Excel. I have already done so and able to get it very close to reconciling with what I already have reported in Mint, so am confident this approach will continue to work for me going forward as long as the export feature continues to work. With this exported data, I can also make my own chart in MS Excel similar to the format used in Mint as well. I am very happy to at least be able to export my data to recreate these reporting features myself.

    Simplifi User Since February 2024

    Mint User Since 2011

    User Type: Monitor Net Income and Grow Net Worth

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭
    edited February 29

    I just saw this (it's so hard to keep track of the forums since it got busy in here), sorry i missed it. It just got my vote too, I think a report over 12 months is a good idea, and it having a "total" not just by month, but over the reporting period would be nice too (even something like toggling between over time and total (like I just noticed the spending report has, and that's quite nice to have there).

    I worry that one idea post with:

    -12 month range [edit: I'm sure this is an existing idea, I know i asked for it and it may have already existed, just cannot locate it now]

    -Total vs. Over Time

    -[edit:] Even maybe being able to select 'By Year' versus 'By Month'

    will be complicated to get done "as one idea", and probably should be split up. Typically, they like to have one idea per idea post, even if they are related, so they can mark each portion done as it's done.


    Rob Wilkens

  • UrsulaA
    UrsulaA Superuser ✭✭✭✭
    edited February 29

    I also export my data to CSV to use in Excel as a backup and have some charts in it.

    The mobile app displays net income total by month for any time range below the line chart. There are also spending by month and income by month reports in it. Check it out.

    Simplifi User Since Nov 2023

    Minter 2014-2023

    Questionable Excel before 2014 to present

  • Bread01
    Bread01 Member ✭✭

    @UrsulaA Thanks for the suggestion, but unfortunately the report for net income on the mobile app isn't really useful for me and definitely isn't a substitute for what I was using with Mint. The mobile Simplifi report does not include income and expense totals by month that are used to calculate the net income number. Without those numbers on the same screen, it provides me no context to understand why my net income jumps all over the place, including negative and positive months.

    For example, the number of paychecks received varies from month to month and can be a significant driver of changes in monthly income and net income. You can't see that as a driver/reason for the difference in net income amount compared to other months with the Simplifi mobile app Net Income report because the Net Income report doesn't show monthly income totals. Also, I have expenses that are more seasonal in nature. My average net income for the 6 months that includes these seasonal expenses is significantly lower than the other 6 months of the year. As a result, the 6 month average net income number displayed in the Simplified Net Income mobile app report is very distorted compared to the other 6 months of the year and distorted compared to the 12 month average, and is therefore not useful.

    Simplifi User Since February 2024

    Mint User Since 2011

    User Type: Monitor Net Income and Grow Net Worth

  • quick
    quick Member

    I also need this feature.

    Why kill Mint? This is so inferior.

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭

    No one here killed mint, they (a different company makes mint) decided that, likely because it cost more to run than what they were making by selling your financial info.


    Rob Wilkens