Simplifi - Account Balance Projection - Calculation Error

Conrad1415

Bills and income with repeated reminders are counted double in the projected account balance during the day they occur.

For instance, let's assume I have fixed monthly rent payment on the fifth of every month for $1,500. Let's also assume my current balance in my bank account is $4,000.

I have the rent payment series added and associated with past transactions. The series automatically generates a reminder which is used to project the balance into the future.

On the 4th. I see projected for tomorrow: 1500 rent will reduce my balance at end of day to $2,500.

On the 5th, my automatic payment of 1,500 goes through in the AM. My balance (with pending) on my bank account is updated to reflect that I've already paid and my balance appears to be 2500.

Unfortunately, the generated reminder still exists for the rest of the day. And it projects my bank account will be 1000 at the end of day (5th/today).

This affects all calculations into the future for the entirety of that day. So, it could falsely raise red flags. Let's say I had a repeating payment of 1200 on the 6th. That would be quite all right because I should have 2500 At the end of the day prior. However, because the projected rent is being applied even after payment for the entire duration of the 5th. When I check it on the 5th, it appears as though I will be negative 200 after paying my $1,200 payment on the 6th.

The problem also occurs in the opposite direction. If I check projected balance on a day where I'm paid, it appears like I will have twice my paycheck in the projected balance going forward. This could cause me to plan with funds I do not have at my disposal.

I can see the pending transactions are already automatically associated with the series in question. The issue is in blindly using balance with pending transactions to calculate the projected balance without checking if the reminder has a pending transaction associated with the series.

The solution is to not account for reminders where there is already a transaction associated with the series present on that day regardless if it is pending or not.

Chris_QPW

Is this post for Quicken Simplifi?

You have posted it in the Quicken Classic forum.

This is the Quicken Simplifi forum:

https://community.simplifimoney.com/

splasher

Wrong forum, this is the Quicken Community forum.

You need to join and post at https://community.simplifimoney.com/