If you notice a difference between your bank balance and the balance Simplifi shows, there may be a few possible causes: pending transactions, past due recurring transactions, or the wrong balance is downloading.
Pending Transactions or Past Due Recurring Reminders
Pending transactions or past due reminders that show in Pending status will impact your balance. This is because Simplifi calculates your balance by deducting your pending transactions, both manually entered and downloaded, from your current bank balance.
Example 1: If your bank reports your current balance as $1000 and you have a pending transaction in Simplifi (with the current or a prior date) for $150, Simplifi will show the account balance at $850.
Example 2: If your bank reports your current balance as $1000 and you have an $80 recurring transaction reminder that shows as Pending in your transaction activity, Simplifi will show the account balance at $920.
You may also notice a difference in balance if there are pending transactions on your bank's end that have not yet been downloaded into Simplifi. While we work hard to ensure we display the most up to date information, it can take up to four hours after appearing on your bank's end, for pending transactions to download into Simplifi.
How can this be resolved?
If you notice pending transactions in Simplifi that have already cleared your bank account, try refreshing your accounts in Simplifi. You can do this by hovering over the menu on the left-hand side and selecting Refresh.
If the pending transactions remain, it could indicate that Simplifi didn't match your cleared transaction to the pending instance. You can confirm this by checking your Transaction Activity in Simplifi for a duplicate, cleared transaction. If you find that Simplifi did download the cleared transaction as expected, we recommend deleting the pending instance. Once deleted, your balance should automatically adjust:
For past due recurring transactions, if the matching transaction already cleared your account and downloaded into Simplifi, you can link the two transactions. For instructions on how to link recurring transactions, visit our help article here!
Wrong Balance Downloading
Since most banks don't include the pending transaction in the current balance, deducting pending transactions should provide you with an accurate future account balance. However, if the balance we're receiving already includes pending transactions, balance discrepancies can result.
While this isn't too common, there is a possibility the balance we're being provided already includes the pending transactions. When this happens, it will appear as if we're double deducting the pending transactions.
How can this be resolved?
Once the pending transactions have cleared, the balance should correct itself. However, you can disable Simplifi from counting the pending transactions in the balance so that they're not being double-counted. Check out our help article here for more information!