Manual investment transactions

felleray

Here are the real life actions I'm trying to input into Simplifi:

I deposit $300 from my bank into the crypto trading company Kraken as USD. I then use those funds to buy $299 worth of a coin called Nano and $1 goes to fees.

Two weeks later, the nano has changed in value to $320. I send $160 to one person and $160 to another.

I can't figure out how to track any of this with a manual investment account.

Coach Jon

Hello @felleray,

Thanks for the reply! To better explain, Investment Transactions do not interact with Account Balances or the Portfolio in any way. Since Payments/Deposits are Investment Transactions and not Holdings, they shouldn’t impact the balance, but since they are, you’re most likely seeing this known issue:

https://community.simplifimoney.com/discussion/7505/ongoing-1-26-24-incorrect-balance-for-manual-investment-accounts-in-the-accounts-list

I suggest entering Cash Holdings into your Investments Portfolio instead, as that will impact your Net Worth while Investment Transactions will not. Here is an article explaining how to enter Cash Holdings in Quicken Simplifi: https://help.simplifimoney.com/en/articles/4474538-tracking-investments-in-quicken-simplifi

Let us know if this makes sense or if you need further assistance!

Thanks,

Coach Jon

Coach Jon

Hello @felleray,

Thanks for reaching out! For your inquiry, it might be good to know what your ultimate goal is here. Are you looking to use the program to track your crypto-currency, or to include the gains from the crypto as income, etc? Additionally, it might help to understand that there is a difference between investment transactions and the Investment Portfolio. Here is a great article that explains how they work in Quicken Simplifi. https://help.simplifimoney.com/en/articles/6540220-managing-investment-transactions

Thanks,

Coach Jon

felleray

Thank you for the reply!

So these are donations to charities that I am sending using Nano to avoid credit card fees.

The goal is to:

1. See that $300 left my bank account but is still included in my net worth.
2. Show that $299 of that money went to buying Nano.
3. Show that at the two week mark, my net worth changed because the asset/investment increased in value.
4. Show that I sent two $160 assets to other people.

Mainly, I want to track how much I donate to these charities.

Coach Jon

Hello @felleray,

Thanks for the information. If you want the cryptocurrency included in your Net Worth, I would suggest using the Portfolio Cash Holdings instead of Investment Transactions. I advise creating an expense category to track the money for the charities, or you can use a built-in one. I suggest this because Cash Holdings can be entered without a ticker since Kraken/Nano are not supported currently.

Additionally, here is a great article about our currently supported cryptocurrency for you to review: https://help.simplifimoney.com/en/articles/7919674-tracking-cryptocurrency-in-quicken-simplifi

Let us know if that works for you!

Thanks,

Coach Jon

felleray

Thanks for your help. I'm still having trouble understanding how transactions and holdings work together.

So I make an "Other Investment" account. I do a Payment/Deposit of $300 into that account. Then after two weeks I want to do $320 out of my Quicken to another person. I don't see how to do this without it showing a net amount of -$20 in the Kraken account, even though it should be $0 since the asset increased in value.

felleray

Ok, I think I understand.

After some experimenting, it looks like I can do a $300 transaction into the account, then a $320 transaction out of the account, which does show -$20 in net worth.

But if I then delete my cash holdings, it will adjust to $0. Or if I edit the cash holdings to any number that's what it will use.

I just have to edit the holdings after the transactions to make it whatever number I want.

Thanks for the help!