Overview
In this article, we'll go over how both Transfer Transactions, as well as Recurring Transfer Series, are handled in the Spending Plan. By design, Simplifi considers Transfers, including Credit Card Payments, to be neither an income nor an expense, and therefore excludes them from the Spending Plan by default. This is because you're simply moving funds from one account to another, which does not change your net worth. However, there are ways to include Transfers in the Spending Plan!
For more details on how Transfers work in Simplifi, please see our Support Article here!
Transfer Transactions
Transfer Transactions are any individual transaction that uses a Transfer Category, such as "Credit Card Payment", or Transfers to other accounts (Linked Transfer). These types of transactions are ignored from the Spending Plan by default, meaning you will not see them listed anywhere, and they will not be counted toward any calculations.
You can also elect to include Transfer Transactions in the Spending Plan:
Click the Menu icon (the three lines in the upper left corner).
Select Accounts.
Select the account that has the transaction you'd like to include in the Spending Plan.
Locate the transaction you'd like to include in the Spending Plan and click on it.
Use the Ignore from Spending Plan toggle to disable it. Note: If enabled, you will also need to disable the Ignore from Reports option to include the transaction in the Spending Plan, as ignoring a transaction from Reports will also ignore it from the Spending Plan.
Click Save when done.
Once included in the Spending Plan, Transfer Transactions will be displayed and calculated as follows:
Transfer Transactions with the Category of "Credit Card Payment" will show in Other Spending as an expense.
Transfer Transactions with the Category of "Transfer" will show in Other Spending as an expense.
Linked Transfer Transactions that use the name of the receiving account for the Category: Transfer: "[Account Name]" will show in Other Spending and you will see both the income and the expense side, so the amounts will offset each other.
You cannot ignore just one side of a Linked Transfer Transaction from the Spending Plan.
Recurring Transfers
Recurring Transfers are any Recurring Series that are set up using a Transfer Category, such as "Credit Card Payment", or Transfers to other accounts (Linked Transfer). These types of Recurring Series are ignored from the Spending Plan by default. However, when ignored, you may still see some types of Recurring Transfers in the Bills section of the Spending Plan, but they will be greyed out.
Greyed out items in the Bills section of the Spending Plan mean that the item is not being included toward the Bills total or the Spending Plan total, but will be counted toward the "including ignored" total listed below the primary Bills total.
Ignored Recurring Transfers will be displayed and calculated in the Spending Plan as follows:
Recurring Transfers with the Category of "Credit Card Payment" will show in Bills and will be greyed out.
Recurring Linked Transfers that use the name of the receiving account for the Category: Transfer: "[Account Name]" will vary depending on the type:
Recurring Linked Transfers to a Credit Card Account will be shown in Bills, but will be greyed out. You will see both the income and the expense side, so the amounts will offset each other when calculated toward the "Including ignored" total.
You cannot ignore just one side of a Recurring Linked Transfer from the Spending Plan.
Recurring Linked Transfers to a non-Credit Card Account that are ignored from the Spending Plan will not be displayed.
You can also elect to include Recurring Transfers in the Spending Plan:
Click the Menu icon (the three lines in the upper left corner).
Select Settings and then Recurring Series.
Locate the Recurring Credit Card Payment you'd like to include in the Spending Plan and click the three dots at the end of it.
Select Edit Series.
Expand the Advanced section and then use the Ignore from Spending Plan toggle to disable it. Note: If enabled, you will also need to disable the Ignore from Reports option to include the Recurring Series in the Spending Plan, as ignoring a Series from Reports will also ignore it from the Spending Plan.
Click Save when done.
Once included in the Spending Plan, Recurring Transfers will be displayed and calculated as follows:
Recurring Transfers with the Category of "Credit Card Payment" will show in Bills as an expense.
Recurring Transfers with the Category of "Transfer" will show in Other Spending as an expense.
Recurring Linked Transfers that use the name of the receiving account for the Category: Transfer: "[Account Name]" will vary depending on the type:
Recurring Linked Transfers to a Credit Card Account will be shown in Bills. You will see both the income and the expense side, so the amounts will offset each other.
Recurring Linked Transfers to a non-Credit Card Account will be shown in Other Spending. You will see both the income and the expense side, so the amounts will offset each other.
You cannot ignore just one side of a Recurring Linked Transfer from the Spending Plan.
If you need assistance with how Credit Card Payments or Transfers are handled in the Spending Plan, our Support Team is just a click away!
To learn about how Credit Card Payments and Transfers are handled in the Spending Plan on the Simplifi Web App, please click here!