There is more than one NET WORTH calculation used

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Dan6912
Dan6912 Member
edited May 22 in Report a Bug

The NET WORTH calculation at the very top of the Dashboard/ACCOUNTS is the correct calculation and ALL uses of NET WORTH should be linked to this calculation. (Dashboard/Accounts/Net worth, etc.)

How do I know this? The calculation of NET WORTH under REPORTS/NET WORTH is different/incorrect starting sometime after 04/06/2024. The net worth display/report under Reports should be linked to the NET WORTH calculation at the top of the program ALWAYS.

Multiple calculations of Net Worth should be deleted as each account has only one Net Worth … the one at the top of the application on the Accounts display.

Dan6912

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  • DannyB
    DannyB Superuser ✭✭✭✭✭
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    @Dan6912 I just checked and my net worth shows the same number on the Dashboard, on the Transactions page and in the Reports>Net Worth tab.

    Danny
    Simplifi user since 01/22
    Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • ajbopp
    ajbopp Member ✭✭✭✭
    edited April 9
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    @DannyB I've found the dashboard widgets to be increasingly unreliable in general lately. For instance, my Spending Plan dashboard widget currently is counting my next Social Security check twice when calculating my "Available" amount (resulting in a significantly higher number than reality), but the Spending Plan page shows the correct "Available" amount.

    Anthony Bopp
    Simplifi User Since July 2022
    Money talks. But all my paycheck ever says is goodbye

  • UrsulaA
    UrsulaA Superuser ✭✭✭✭
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    My net worth from the dashboard and the reports>net worth tab matches as well.

    Simplifi User Since Nov 2023

    Minter 2014-2023

    Questionable Excel before 2014 to present

  • DannyB
    DannyB Superuser ✭✭✭✭✭
    edited April 9
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    I see the same issue until the deposit clears.in my checking account. Once it clears my Spending Plan available adjusts to the correct amount. This seems to be that date issue we talked about in another post about Wells Fargo's pending date cha ges not being caught by QS. But now that you brought that up I'm going to check and see how this double counting SSA deposit for a few days impacts my net worth over.that time period. Does QS include pending deposits in net worth calculation?

    Danny
    Simplifi user since 01/22
    Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • ajbopp
    ajbopp Member ✭✭✭✭
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    Iwould not argue that, but it doesn't explain why Quicken Simplifi is showing two different values for the same data point depending on where I am in the app. I haven't calculated which is used for my net worth.

    Anthony Bopp
    Simplifi User Since July 2022
    Money talks. But all my paycheck ever says is goodbye

  • swiggity
    swiggity Member
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    I also have noticed that I get different net worth values depending on the page. I've noticed it's always fidelity accounts that are the discrepency, sometimes on the reports page the account values are really crazy. Recently my IRA is showing the correct value on the main page, but in reports I somehow have a random negative balance.

  • Dan6912
    Dan6912 Member
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    on mine, my 401k value is completely missing in the Report»Net worth; however, the value in the Dashboard is correct.

    It is not possible to have different Net Worth. There is a linking problem within the application!! ☹️

  • ajbopp
    ajbopp Member ✭✭✭✭
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    I recently saw my net worth increase by several hundred thousand dollars in Quicken Simplifi, but it was corrected before I had a chance to investigate where the error was coming from

    Anthony Bopp
    Simplifi User Since July 2022
    Money talks. But all my paycheck ever says is goodbye

  • Coach Jon
    Coach Jon Moderator admin
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    Hello @Dan6912,

    Thanks for the information. Investment accounts are usually excluded from Reports by default.

    Can you please try unchecking these options as shown above in your Accounts Settings and let us know if your account shows in the report afterward?

    This can be done by navigating to Settings > Accounts > selecting the 3 dot menu to the right of the account in question > and then unchecking the mentioned options.

    Thanks,

    Coach Jon

  • swiggity
    swiggity Member
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    In my case, unchecking the account removes it from reports as expected, but that doesn't solve my problem. Investment accounts are a large portion of my net worth so excluding them defeats the whole point of the net worth report. If it were possible somehow that the report and the net worth on the home page were in sync that would go a long way towards solving this.

  • Coach Jon
    Coach Jon Moderator admin
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    Hello @swiggity,

    Thanks for the reply. To clarify, Unchecking the 'Exclude account transactions from' options still did not allow the Account to be included in the Net Worth report for you?

    Thanks,

    Coach Jon

  • swiggity
    swiggity Member
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    @Coach Jon Unchecking those options do allow the account to be included in the net worth report, but that isn't the issue. The issue is that the value in the report is incorrect. For example, one of my investment accounts would show up on the simplifi home page with a value of $12,000 (correct). But when I view this same account in the net worth report, it has a value of $-7000, which is wrong. So my net worth number is completely inacurate.

  • Coach Jon
    Coach Jon Moderator admin
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    Hello @swiggity,

    Have you perhaps imported account balance history into Quicken Simplifi? You also referenced that your investment account shows up on the homepage with a $12,000 value. Are you stating that is the accounts list balance or the investments balance? If you could attach a screenshot, this may be helpful going forward.

    Thanks,

    Coach Jon

  • swiggity
    swiggity Member
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    @Coach Jon Yes, I did import account balance history, but the history ended in mid-march when I started using Simplifi so I'm not sure how it would affect the current balance. Oddly enough, this bug isn't consistent. About 2/3 of the time the numbers all line up. Right now the numbers appear correct, but looking back in the balance history I can see when the balance has fluctuated. On the main page the balance is always correct but in the report it randomly fluctuates. This happens for a couple of my accounts. See the screenshot below of one of them. The actual balance has been ~$30,000 the entire time.

  • Coach Jon
    Coach Jon Moderator admin
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    Hello @swiggity,

    Thanks for the reply! I would suggest having you re-import the balance history again, to see if we can get the incorrect data overwritten by the correct data. Let us know if that works!

    Thanks,

    Coach Jon

  • swiggity
    swiggity Member
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    @Coach Jon I think I imported my history from mint using the chrome extension - I don't have a way to import the balances again now that mint is gone. Is there a way for me to download the balance from Simplifi, manually fix the issues, and re-upload it? Looking at the long term trends it looks like the data from mint is all correct it only gets messed up starting on the date I switched to Simplifi - you can tell very easily on the graph when I switched

  • Coach Jon
    Coach Jon Moderator admin
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    Hello @swiggity,

    Thanks for the reply. If you know your balance history, you can use our template, found here, to import into Quicken Simplifi: https://help.simplifimoney.com/en/articles/8912157-how-to-import-account-balance-history#h_bd6a7e8dff

    Let us know if that works for you!

    Thanks,

    Coach Jon

  • swiggity
    swiggity Member
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    Unfortunately I don't have the history and manually setting years of data into the template doesn't seem realistic anyways. I guess I will just hope the balance stops fluctuating on its own

  • Coach Jon
    Coach Jon Moderator admin
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    Hello @swiggity,

    Thanks for your reply. The reason we wanted you to try re-importing using the template is that it could be an immediate fix for this issue. However, we can also escalate if you would like. We would just need more information if this is what you choose to do. We would need to know if the problem is relegated to just the single account or if it is an issue seen across multiple accounts. As well as the exact difference you're seeing between the two different Net Worth amounts (Accounts List versus Net Worth Report). Please let us know if you can.

    Thanks,

    Coach Jon

  • swiggity
    swiggity Member
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    @Coach Jon I did go ahead and manually re-create the template and upload it yesterday and there haven't been any weird changes in the balance yet. I only have one account so the issue is not across multiple accounts. I will post again if the values get out of sync again, thanks for the help!

This discussion has been closed.