Net Worth Report does not show liabilities

bridgex6 · September 12

Shouldn't the Net Worth Report show liabilities?

UrsulaA · September 12

My net worth report reduces the assets by the amount of credit cards in net worth but not liabilities. I am on the web app version 4.25.0.

The chart is correct when I filter by only the loan, which was categorized as a liability.

I paid off the loan above last year but the history should show the liability's value on the table and the chart. The net worth report does not.

I have the same issue as @bridgex6

UrsulaA · September 12

@RobWilk @DannyB @Flopbot - do you have non credit card liabilities (loans, mortgages, etc.)? If you do, do you see the behavior reported above?

Coach Jon · September 12

Hello @bridgex6 and @UrsulaA,

Thanks for the information and for reaching out in the community! I myself do not see this behavior in my own Net Worth report. I can see both of my liabilities under the debt drop-down, and the history is tracked correctly.

@bridgex6, if you could provide screenshots showing what your Net Worth report currently looks like, as well as the liability accounts you have that are not appearing, this would be helpful in this situation to determine what is happening here.

@UrsulaA, Thank you for your screenshots. I can see from the latter screenshot that there are no values for most of 2023. Are there values there if you scroll to 2024? The Net Worth Report is designed to start tracking balances from the day you add your account(s) in Quicken Simplifi as opposed to the date of the first transaction. When did you add your liability account/s?

Thanks,

Coach Jon

UrsulaA · September 12

@Coach Jon - I had the loan from November 2022 to August 2023. The history of the loan (Marcus Personal Loan) shows in the chart above, which I filtered to display only Marcus Personal Loan. However, the table does not deduct the loan value from the net worth.

Link to charts above

UrsulaA · September 12

Also, on this item "The Net Worth Report is designed to start tracking balances from the day you add your account(s) in Quicken Simplifi as opposed to the date of the first transaction."

This is not accurate when balance history is imported. Before this update, the net worth table and chart showed accurate values for Marcus Personal Loan with the balance history imported. Now, the chart shows the balance history values but the table shows nothing for the loan.

UrsulaA · September 12

From a report I saved on 1/1/2024 (unzip and then open the file in a browser, sent via message) - Even though Marcus Personal Loan had a zero balance, the line was on the Net Worth Report.

Net worth report now does not even display Marcus Personal Loan on the report as a line item. I did not close the loan in Simplifi, I kept it with a zero balance.

No liabilities shown in table

UrsulaA · September 12

@Coach Jon - should I send feedback logs?

UrsulaA · September 12

Also, when I changed the account type for Marcus Personal Loan to be Other credit, the loan balance history shows up on the net worth chart correctly.

The chart and table above show the value of the Marcus Personal Loan account only.

Coach Jon · September 12

Hello @UrsulaA,

Thanks for all the information! I would have you try re-importing your balance history for the account to see if that corrects things. If it does not, then you will want to create a new post, as we do not yet know if what you are reporting is what the OP reached out about. We want to keep this thread on topic and allow it to have value towards the OP if it turns out to be a different issue.

Thank you, and let us know how that goes!

-Coach Jon

UrsulaA · September 12

@Coach Jon the balance history displays properly when the loan account type was changed to other credit from other loan. This leads me to believe that the plan/liability account has the display problem.

Coach Jon · September 12

Hello @UrsulaA,

That may be, but since we do not yet know if the OP is reporting this same problem, we will want to keep this thread on topic until the reported issue/inquiry is confirmed. As I stated previously, you may make a new post for your specific issue where troubleshooting can be done there.

Thanks,

Coach Jon

UrsulaA · September 12

The issue that OP reported, per the first post was that liabilities/loans are not in the net worth chart and table. I am seeing the same issue with my loan, which does not display as a liability when such type is assigned. My loan should display on the table and chart with a value of zero, which it does not.

It is wise of you to ask OP to confirm his issue.

Coach Jon · September 12

@UrsulaA,

The first post inquired specifically if the Net Worth report shows Liabilities. This is not totally indicative of the situation you brought up, as we do not have enough information on the reported issue/inquiry as of yet. You can wait to see if the OP will reply or not so that we may verify what the reported issue is in this thread. Or you can create your own post, where troubleshooting may begin for your reported issue. I would still suggest trying to import your account balance history as well to see if that would resolve your issue.

Thanks,

Coach Jon

UrsulaA · September 13

Thanks again. For clarification, the title of the post is "Net Worth Report does not show liabilities". My screenshots show that the liability (loan) is not on the net worth report total.

My issue is the same issue as the title of this thread.

I provided color on my balance history as I thought it was relevant to me.

Let's wait for @bridgex6 input.

DannyB · September 13

@UrsulaA I don’t have any loans or a mortgage. My current balance on my active credit cards shows up as liability, but those balances are actually regular monthly spending covered by my normal monthly income so not really a liability as much as an offset of the balance in my checking account.

I have a net worth number in at least 4 different sources, and they are all different. The one I rely on and have the highest level of confidence in is my Personal Capital net worth. I’ve been tracking it in their dashboard for the past 12 or so years.

RobWilk · September 13

https://community.simplifimoney.com/discussion/comment/40828#Comment_40828

Sorry, I missed this. No— all my liabilities are credit cards. I plan to have an auto loan, but not for another year.

UrsulaA · September 13

https://community.simplifimoney.com/discussion/comment/40859#Comment_40859

Per your posts, I created a manual liability consumer loan to test the balance history and display. The test loan displays correctly as a liability in Simplifi with its history. I opened the test consumer loan as of today and imported history for the month of September 2024.

My issue is with the paid off loan specifically not showing in the net worth chart. I changed the paid off loan to be other credit and it resolved my issue. Thanks for your help.

bridgex6 · September 17

@Coach Jon, here are my screenshots

My Net worth is 1,228,140.52 as shown in the Dashboard and Net Worth report (at the top left), but at the bottom of the Net Worth report the Net worth of 1,229,712.48 excludes the liability of -1,571.96. 1,229,712.48 = 1,236,398.94 - 6,686.46.

UrsulaA · September 17

https://community.simplifimoney.com/discussion/comment/41011#Comment_41011

I experienced the same behavior.

As a workaround, I changed the account type for Marcus Personal Loan (my sole liability) to be Other Credit. After doing this, the loan balance history shows up on the net worth chart correctly and the current net worth shows the correct value.

Coach Jon · September 17

Hello @bridgex6,

Thanks for the information. You can definitely try the workaround @UrsulaA provided, but I would suggest trying to import your balance history for the account, to see if that corrects the issue first. https://help.simplifimoney.com/en/articles/8912157-how-to-import-account-balance-history

Let us know if that works!

-Coach Jon

UrsulaA · September 17

@Coach Jon - importing the balance history will not help with today's values or going forward. Hope you do not expect users to import liability balance history daily for the net worth liabilities to display on the net worth report. Can you escalate this issue?

The screenshots @bridgex6 shared are dated today.

Coach Jon · September 17

Hello @UrsulaA,

Before we escalate, we will want to make sure we test all avenues in regard to troubleshooting. You mentioned that the account shows up properly when you changed the account type. If you change it back, does it resume the previous behavior? Additionally, have you tested if this issue occurs in other web browsers or on the mobile application?

Thanks,

Coach Jon

UrsulaA · September 17

Given that my loan is closed since last year and the workaround of designating the loan account as other credit works for me, I defer to @bridgex6 to perform troubleshooting. I rather not load balance history again to an old account, specially when such history displays when changing the account type.

bridgex6 · September 17

@Coach Jon @UrsulaA changing my accounts to Other Credit caused the Net Worth report to be correct. So the issue remains, the report doesn't show liabilities.

bridgex6 · September 17

I now see there is a similar known issue - 6/17/24: "Other Asset" Account Types are Not Tracked in the Net Worth Report

Since this is being investigate, @Coach Jon can you have my concern included with that?

UrsulaA · September 17

Also, for a quick test, I changed my personal loan to be liability>consumer loan and the net worth report displays properly.

Coach Jon · September 17

Hello @UrsulaA and @bridgex6,

I was able to reproduce this behavior in my own web application. What I see is the "Other Liability" account type fails to show in the Net Worth report, similar to the "Other Asset" account type issue that was reported. Is this what you guys were seeing yourselves?

Thanks,

Coach Jon

UrsulaA · September 17

https://community.simplifimoney.com/discussion/comment/41048#Comment_41048

Yes, that is what I am seeing.

bridgex6 · September 18

@Coach Jon yes that is what I'm seeing

Coach Jon · September 18

Hello @UrsulaA and @bridgex6,

Thank you for confirming! I have gone ahead and reported this bug. I will be sure to post updates here on the status of this issue as we receive new information going forward.

Thanks,

Coach Jon

SIMPL-23071

Net Worth Report does not show liabilities

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