A key component to correctly calculating your Net Worth is factoring in your Assets. Assets are the things that you own that have monetary value, such as vehicles or homes. In Simplifi, Assets are tracked as Manual Accounts.
Add a Manual Asset Account
Click the Menu icon (the three lines in the upper left corner).
Click the blue plus (+) button in the bottom right.
Select Add manual account.
Enter an Account Name and select an Account Type, and then enter the Value of your Asset.
Click Confirm when done.
Simplifi will add your new Asset Account to the Accounts page, as well as include the value in your Net Worth.
How Do I Update the Value of My Asset?
Since Asset Accounts are tracked manually in Simplifi, you'll need to update the value of the asset manually as well. You can do so by entering a new transaction in the account that accommodates the difference in value, or you can edit the "Opening Balance" transaction to change the total of that transaction to the current value.
Please be sure to check out our Support Article here for more details on adding and editing transactions in Simplifi.
If you experience any trouble with tracking your Assets in Simplifi, please don't hesitate to reach out to our amazing Support Team!
To learn about tracking Assets on the Simplifi Web App, please click here!