Overview
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 Quicken Simplifi, assets are tracked as manual accounts — with the exception of real estate assets, which can be linked through Zillow.
Add a Manual Asset Account
Tap the Menu icon (the three lines in the upper-left corner).
Select Accounts.
Tap the plus (+) button in the upper right corner.
Select Add account at the bottom of the screen.
Enter an Account Name and select an Account Type, and then enter the Value of your Asset.
Tap Confirm when done.
Quicken Simplifi will add your new Asset Account to the Accounts page, as well as include the value in your Net Worth.
Updating the Value of an Asset
Since asset accounts are tracked manually, you’ll need to update their value manually as well. You can do this by:
Adding a new transaction to reflect the change in value.
Editing the Opening Balance transaction to reflect the current value.
Please be sure to check out our Support Article here for more details on adding and editing transactions in Quicken Simplifi.
How to Handle the Selling of an Asset
If you've sold one of the Assets you're currently tracking in Quicken Simplifi, the easiest way to go about handling this would be to mark the Asset Account as 'Closed' by following the steps here. Doing so will bring the balance of the Asset Account down to $0, while still retaining the historical data.
Once done, you'll want to add the funds to whichever account they were received. For example, if you sell a vehicle and deposit the money into your Checking Account, you'd want to make sure the transaction shows up in that account in Quicken Simplifi. This will ultimately leave you with the same amount (or hopefully more) money for your Net Worth!
Using Zillow to Track Real Estate Assets
If you're tracking real estate assets in Quicken Simplifi, Zillow integration offers a convenient way to monitor property values and keep your net worth up to date. You can link your property to Zillow and update its estimated value whenever needed — without manual entry.
For a deeper look at how Zillow works within Quicken Simplifi, we've created a dedicated article that walks you through setup, usage, and best practices. Click here to learn all about using Zillow in Quicken Simplifi!
To learn about tracking Assets on the Quicken Simplifi Web App, please click here!
If you experience any trouble tracking your Assets in Quicken Simplifi, please don't hesitate to reach out to our Support Team!