Tiller Labs Roundup: 11/21/19 - Net Worth Snapshot template

Our Tiller Labs team is working to keep you efficient, inspired, and enabled with financial templates, tools and workflows.

In case you missed it, our own @jonorlin snuck a new template into the Tiller Labs add-on last week…

Net Worth Snapshot

At the request of some of our customers, we published a new net-worth template that is simplified for monitoring and for comparisons. The new sheet shows your Net Worth either on a single user-input day or can run a side by side account-by-account comparison across two user-input dates.


Consider taking the new Net Worth Snapshot for a spin. It is easy to install using the Tiller Labs add-on.

Cheers,
Randy

P.S. To stay up to date on the latest features and additions to the Tiller Labs add-on, consider following the labs-roundup tag— also available via RSS.

2 Likes

Yes, I was one of those requesting customers.

Here is how I have used the new template. I have been tracking in Excel all the 12-31-xx balances in all of my retirement accounts since 1993. I know, call me crazy. That amounts to about 5-10 numbers per year that took me about 5-10 minutes each year to maintain. Over the last few days, I have entered all this data into the Balance History tab. Although there is more to my yearly net worth than just these retirement accounts, the new template allows me to quickly compare all of my retirement account balances for two dates. Not something I intend to use a lot, but it was worth the time investment and it is nice to see how my retirement accounts have changed over the years.

Blake

Hi @Blake,
Yes we built that for you and some other customers. I wanted it for me too.

Thanks for sharing your use case.

You might consider adding an annual % change column.

You could get the number of years from start to finish using =DATEDIF(D8,E8,"Y")

Then adjust or add a new % Change formula that divides by the number of years.

I am a new customer, so please forgive me if this question is addressed somewhere else. Is the Net Worth Snapshot template add-on compatible with the Foundation template?

Yes, @4edjennings, it should be.
Are you seeing an issue?

Randy

NO ISSUE with compatibility. I scoured the info available and found a statement that resolved that question. Now I need to know how to enter Asset categories that are not driven by income or expenses. On my Balances, Net Worth etc — I see my chart of accounts under the group of Assets, but cannot find a way to add the Fair Market Value of my Home. This leaves my account severely out of balance. I get an error if I attempt to add an account that is not income/expense/or transfer. How do I add a beginning net worth balance?

@4edjennings

Please see below. Add the asset on the Balance History tab and then select that asset on the Accounts tab.

Blake

Thank you. That manual addition to Balance History worked but resulted in an issue for Net Worth Snapshot. Net Worth sheet reflects change OK, but Net Worth Snapshot has also added Home Expenses to the Asset category. How do I fix this?

Can you setup an Account override by using the Accounts sheet?

Randy

I renamed some accounts and now I realize the issue is that Net Worth Snapshot does not have a Liabilites category. Strange… Net Worth sheet does, but Net Worth Snapshot does not.
Whoops! Now things are really getting screwed up. My Monthly Budget is filled with #REF! and I don’t know how to recover. Help!

Hi @4edjennings,
Let me offer some suggestions that might fix this.

  1. Look at your Accounts sheet. It might be hidden but you can find it by clicking the 4 bar hamburger next to the plus sign on the bottom left of the spreadsheet. Look at the hidden Account columns. Do you see anything strange there? There should only be Accounts, not any Categories like Home Expenses. If you see something like Home Expenses, there might be a problem with your Balance History where there is a Home Expenses listed somewhere. Balance History shouldn’t contain any Categories.

  2. Where are the #REF! errors showing up? In place of the category names column or the numbers columns. And is there any error message if put your cursor in the #REF! error cells?

Jon

1- Accounts sheet has only institutions, no categories. Balance History does not have any categories.

2- I got rid of the #REF errors, but can’t remember how I did it. But I got tired of fighting one issue after another, so I called up an earlier sheet from google drive and started over.

  1. Still have the issue with Liabilities not showing a header on the Net Worth Snapshot. It looks like the liabilities are under Assets.

Hi @4edjennings,
I’m glad you got rid of the #REF errors.

I haven’t seen the issue where the Liabilities header is not showing up. Might you have added an account with a class other than Asset or Liabilities?

Have you tried deleting the Net Worth Snapshot sheet and re-installing in from the Tiller Labs Add-on?

How do I delete the Net Worth Snapshot sheet and how do I then re-install it?

Hi @4edjennings - you can just use the “restore” option under Managed Solutions after selecting the Net Worth Snapshot in the Tiller Labs add-on. Not need to make an archive of that sheet.

Thanks, Heather! That worked. The LIABILITIES header now shows and the Liabilities group is properly showing. Whew! I have spent 4 days trying to set up Tiller. I don’t think I would have begun if I knew it was going to be this difficult. But thanks for your help.

Hi @4edjennings,
Thanks for sticking with it to resolve this. Glad it is working now.

I think you might have entered something by mistake in one of the cells that was breaking it. For many Tiller reports, only type in the green shared selector cells.

Jon