Overview
Assets are things you own that have monetary value, such as a home or vehicle. Adding your assets to Quicken Simplifi allows their value to be included in your Net Worth.
Most assets are tracked as manual accounts because their values aren't automatically provided by a financial institution. Real estate can also be linked through Zillow to track estimated property values.
Add a Manual Asset Account
Tap the Menu (three lines), then tap Accounts.
Tap the + New button in the upper-right corner.
Select Add account at the bottom of the screen.
Enter an Account Name, select an Account Type, and enter the current Value of the asset.
Tap Confirm.
The new asset account will appear on the Accounts page, and its value will be included in your Net Worth.
Updating the Value of an Asset
Because manual asset accounts aren't automatically updated, you'll need to update their value when the value changes.
You can update an asset account by:
Adding a transaction: Use a transaction to record a change in the asset's value while preserving the account's transaction history.
Editing the Opening Balance: Update the Opening Balance transaction when you simply want to change the account's recorded value without adding a separate transaction.
Please be sure to check out our Support Article for more details on adding and editing transactions in Quicken Simplifi.
How to Handle the Selling of an Asset
If you sell an Asset you're tracking in Quicken Simplifi, you can mark the Asset Account as Closed. This sets the account balance to $0 while keeping its historical data. For instructions, see Marking Accounts as Closed on the Mobile App.
Next, make sure the sale proceeds are recorded in the account where you received the money. For example, if you sell a vehicle and deposit the money into your Checking Account, record the deposit in that account. This keeps your Net Worth accurate.
Using Zillow to Track Real Estate Assets
Real estate assets can be linked to Zillow to track estimated property values. This allows the value of a linked property to be updated based on the available Zillow estimate instead of requiring you to enter the value manually.
For instructions on setting up and managing a Zillow-linked property, see Using Zillow in Quicken Simplifi.
To learn more about tracking Assets in the Quicken Simplifi Web App, see How to Add an Asset Account.
If you have any questions about Quicken Simplifi, our support team is here to help.