Ability to include Transfers in Reports (edited)
There are situations when a transfer is an expense. For instance if you have a recurring auto payment and you use the transfer feature to move money from your banking account to your debt account to lower the balance then this should be included on the bills section of your spending plan since it is money spent for the first time. However, these are hidden since all transfers are permanently hidden and therefore inflate how much money you have left to spend. My suggestion is to make an option where you can make one side of the transfer visible on reports and the spending plan.
Comments
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Spending plan is reportedly getting a transfers bucket, i believe in 3.75.0. So, at least in part, coming soon
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Rob Wilkens2 -
Hello @jgold1996,
Thanks for posting your requests to the Community!
To clarify, you can currently include Transfers in the Spending Plan, including Recurring Transfers, by following the guidance offered in our Support Article here. With that said, however, as @RobWilk mentioned, we are working on adding a "Transfers" bucket to the Spending Plan. The new bucket should allow the ability to ignore just one side of a Transfer from the Spending Plan while leaving the other side included.
When it comes to Reports, Transfers are automatically excluded no matter what, so I did go ahead and turn this into an Idea post requesting the ability to include Transfers in Reports specifically so other users can vote on it. In the meantime, you can include items such as an auto payment in Reports by using an Expense Category for the transaction instead of a Transfer Category.
I hope this helps!
-Coach Natalie
-Coach Natalie
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Hi @Coach Natalie, that worked! Thanks so much! I tried to do this within the spending plan but could not seem to get it to work. However, when you do it on the transaction itself like in the directions you sent over it worked perfectly. Thanks again 😊
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I noticed the 'transfers bucket' showed up for me under 'income after bills and savings'.
I think I might like how it works, it seems either custom amount of zero (by default) or 'calculated' amount which includes deducting for credit card payments (which seems to ignore checking←>savings transfers).
Some months I won't want to factor in credit card payments, but if i'm carrying a balance longer term, I might want to have the credit card payments (or some of them) deduct from income.
LIke I said, my need for this feature will vary depending on how i'm carrying debt, but i'm glad it's here.
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Rob Wilkens0 -
Oops- I noticed now that Credit Card Payments count as additional income rather than additional expenses. That's a little unexpected. I set mine back to custom amount of zero for now until i understand it.
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Rob Wilkens0 -
Transfers are excluded from all reports, and for good reason - you don’t want to inflate income and spending by $50k on both sides.
However, it would be very helpful to have a specific Transfers report to see all inbound and outbound transfers for a specific account.
Use case:
- How much money did I fund into Fidelity brokerage this year? Vs in 2022?
- How much money did I transfer from personal to joint account in 2023? 2022? 2021?
- How much was transferred to Credit card A? B? C? For a given year?
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I filter the transaction list by the transfer category to see this data. I also use tags for transfer that fill a purpose (IRA contributions).
A transfer report will be nice.
Simplifi User Since Nov 2023
Minter 2014-2023
Questionable Excel before 2014 to present
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Transfer in reports is a must-have. I maintain a monthly escrow transfer from checking to a savings account for home/ auto/ life insurance & property taxes. These payments are staggered & I'd like to see a net balance of what went in and what went out into that Annual Escrow bucket. The same account is used for vacation escrow and Emergency funds, so it will be nice to be able to carve out how much was under which escrow.
It will also be great to have a Transfer Type, if I have to push the envelope
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Except for the part where Simplifi automatically assumes anything with "Zelle" in the payee is a transfer. (Brilliant decision, that one.) How can I turn that off, since there's no wildcard matching in Transaction Rules?
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