I transferred money from one account to another and because of the delay, my Net worth has a temporary spike during the time the amount registers in the new account but is not removed from the old one. Can I alter the dates so that this transition happens smoothly (on the same date) and will it affect any other sheets besides net worth?
Hi @Junbugbear ,
I would advise against altering the dates of your balances. It makes your Tiller data diverge from your bank data. That could create reconciliation problems if you ever need to compare the two.
Net Worth is usually seen as a long-term trend. Having a few days where it is off a little due to a transfer wouldn’t seem to matter. Is there a reason you want to have your Net Worth accurate on a daily basis?
I’m not sure whether you were thinking about changing the dates in the Balance History sheet (where the Net Worth gets its data) or the Transactions sheet, where income, expenses and transfers data is generated.
If you really wanted and needed to do this, you could add a new Adjustment account. When one side of a transfer happens, on the same date. you can add an opposite balance to this account to keep your Net Worth the same. When the other side of the transfer happens, you could readjust this account balance to zero. To me, this seems like a lot of work without much value. But perhaps you have a need that I’m not aware of.
Jon
Hi Jon,
All fair points. I guess the disparity in the net worth calculation isn’t worth the trouble. It just got out of whack for a month because of transfer delays, but you’re right, it’s more useful for long term trends. Thanks for the wisdom.
Jun
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