My bank balance is incorrect in Simplifi and includes pending transactions

Options
AFISH
AFISH Member
edited August 2022 in Adding and Updating Accounts
My bank balance is incorrect in Simplifi and includes pending transactions. I’ve deleted all accounts and re add them and still same issue. It was first noticed when I deleted a savings and credit card account. Ever since the checking account balance doesn’t match. I’ve tried adding everything back and when I do all account balance are incorrect. This is with Bank of America 
Tagged:

Best Answers

  • DannyB
    DannyB Superuser ✭✭✭✭✭
    Answer ✓
    Options
    Hi @AFISH

    I suspect there are a couple of things going on here.  If your bank allows it, Simplifi by default will download and report your pending transactions.  Some banks don’t allow this, others do and your balance in Simplifi include having accounted for these pending transactions, whereas your actual bank balance may not.

    To stop Simplifi from downloading pending transactions go to Settings > Accounts then find your bank and click on the 3 dots and select “Edit Account”  In the edit window under Balance with pending check the box and that will keep Simplifi from downloading pending transactions.

    Simplifi isn’t designed to be a check register in which you can do bank account reconciliation.  It’s designed to be a budget tracking app.  Here is one thread discussing reconciliation.  

    I don’t currently have any loans and haven’t work with a loan in Simplifi, so I won’t comment on that part of your question.  Someone will though.
    Danny
    Simplifi user since 01/22
    ”Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Answer ✓
    Options
    Hello @AFISH, 

    Thanks for posting to the Community regarding this issue, although I'm sorry to hear that you're seeing an incorrect balance in Simplifi.

    I agree with @DannyB -- it sounds like you need to disable the 'Balance with pending' option for the account/financial institution in question. However, disabling this option doesn't prevent pending transactions from downloading, but rather prevents Simplifi from deducting them from your balance if this is something that your financial institution already does when sending in the balance. 

    More details on how Simplifi calculates your balance, as well as how to disable the 'Balance with pending' option, can be found here. 

    Please let us know how it goes!

    -Coach Natalie
This discussion has been closed.

Categories