Added missing 2024 transactions - how do I "balance" to have the correct Credit total?

tryingtosimpli
tryingtosimpli Member ✭
edited August 22 in Adding and Updating Accounts

My bank for whatever reason isn't bringing in 2024 transactions. So what I needed to do is bring them in as csv. I brought them into a new "account" that I made to hold only those imported transactions (this to keep things cleaner for my brain!).

When I do this, it will show that manually added account having a "balance" of say $1,200 based on the transactions manually added (so it is showing that effectively for 2024). And since I am not adding any more transactions to that "account", it will always continue to show $1,200 on my Transactions overview page, and then sum that $1,200 into my total credit amount. However, the other "normal" accounts that are linked to my banks are all showing the accurate balance at any given day, this $1,200 is throwing what I actually "owe" a bit out of whack (hopefully I explained that OK!)

Does anyone have recommendations on what I should do? I assume I should get that manually added account to show as $0, so it's not impacting my total Credit state. Is that the right way to think about that? If so, would I just add another transaction at say -$1,200 on the last day of 2024 to make everything "balance"?

I'm having a hard time wrapping my head around this one. thank you all - 😀

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Best Answer

  • DryHeat
    DryHeat Superuser ✭✭✭✭
    Answer ✓

    @tryingtosimplifi

    Yes, you could enter a -$1,200 transaction on the last day as a Balance Adjustment (under Other in the pick list).

    Another way to handle it would be to make a $1200 transfer from the manual account to your current account (the one you are actually using). That would start your current account off with the right balance.

    This second way has the added benefit of making the total of transactions in your current account equal to your bank balance (when all transactions are in). I periodically select all transactions in my account to see if the amount of the selected transactions matches my balance — this is sort of a rudimentary reconciliation.

    DryHeat
    -Quicken Classic (1990-2020), CountAbout (2021-2024), Simplifi (2025-…)

Answers

  • Coach Jon
    Coach Jon Moderator admin

    Hello @tryingtosimplifi,

    Thanks for reaching out! I am glad you were able to successfully import your 2024 transactions. We usually suggest importing the transactions directly into the corresponding accounts they are related to, but if you wish to keep a separate account for only 2024 transactions, that does not affect the total balance of your other credit accounts, then you can certainly add a manual transaction to "zero out" that account balance as you mentioned.

    -Coach Jon

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