Best Practice way of Adding and Tracking HSA

tribexx
tribexx Member
edited July 10 in Adding and Updating Accounts

Hello,

I'm not sure how I added HSA, I think as a regular account. What is the BEST PRACTICE for how this account should be added and tracked? I have $$ that goes in from my paycheck, PLUS money I contribute on my own. (should that be a Transfer?).

Please advise on these 2 questions

thanks

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  • Flopbot
    Flopbot Superuser, Beta Tester ✭✭✭✭✭

    @tribexx ,

    This is how I have my HSA linked in Simplifi. Currently, Simplifi doesn't have a dedicated/stand alone account type for "HSA Account". Hopefully some day!

    image.png

    Chris
    Spreadsheet user since forever.
    Quicken Desktop user since 2014.
    Quicken Simplifi user since 2021.

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin

    @tribexx, thanks for posting your inquiry to the Community!

    It looks like Flopbot has got you covered on how his HSA account is set up in Quicken Simplifi, but I also wanted to share this Idea post requesting an HSA account type in case you're interested in voting on it:

    https://community.simplifimoney.com/discussion/3604/add-an-hsa-investment-account-type-edited

    As far as tracking the contributions, are you looking to track these as expenses so they count against your Spending Plan? If not, using a Transfer Category would definitely be the way to go. Our support article here has more details on how Transfers work in Quicken Simplifi: https://help.simplifimoney.com/en/articles/3352152-how-do-transfers-work

    -Coach Natalie

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