Issues with Detailed Net Worth Screen (Summary Page)

dtd's Avatar

dtd

26 Sep, 2021 07:48 PM

I recently clicked on Net Worth on the Summary Screen, and got a detailed valuation. Nice.

OTOH, the total on the detail screen does not match the value on the summary page.

The primary issue is that the home loan I recently created, does not have the mortgage included on the detail screen, i.e. the detailed screen final value ends up being significantly larger than the summary screen value.

A secondary issue is that the detailed screen includes INACTIVE accounts that are non-zero. Again, the summary screen value does not include those.

I find the non-detailed value on the summary screen to be the "correct" one, as the detailed screen should have the mortgage value included, and should not have INACTIVE accounts in the net worth calculation.

I assume this can be duplicated by others, but if not, I'd love to know what box I haven't clicked.

  1. 1 Posted by derekkent23 on 26 Sep, 2021 09:11 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi dtd

    The detailed report you see when you double click on the Net Worth value on the Summary Page is based on the selection of account in the non-memorized Net Worth Report in the Side Bar. Include / exclude account in this report using Edit will be reflected in the report when you double click on the Net Worth value on the Summary Page. The Net Worth value on the Summary Page is not affected by the selections you make in the non-memorized Net Worth Report in the Side Bar. Thus, the two Totals dependant on selections you make can be different.

    Hope this helps.

  2. 2 Posted by dtd on 26 Sep, 2021 09:41 PM

    dtd's Avatar

    So, basically, the non-detail summary has a fixed selection of items, whereas the detail summary is based on the selections within the sidebar report.... i.e. they aren't really even related, though double clicking moves from the fixed selection to the non-fixed selection.

    Correct?

  3. 3 Posted by dtd on 26 Sep, 2021 09:52 PM

    dtd's Avatar

    Ok, non memorized Net worth report.

    Went and unselected all inactive accounts, which were all checked. (Would be nice if there were an option to select only active).

    That fixed the inactive accounts in net worth issue.

    However, the Loan is checked, but is NOT included (as a negative) in the net worth calculation.

    It might be because I don't have a payment yet (the first one is scheduled for 10/1, and doesn't appear to be editable [to test] ), but there is an initial balance (of course), and the non-memorized networth report doesn't seem to pick it up, even though the account is checked.

    Again, the non-detail net worth on the summary page picks it up with no problem.

  4. 4 Posted by sth on 27 Sep, 2021 02:49 AM

    sth's Avatar

    The Networth Report reports the net worth AS OF THE CURRENT DAY. The summary screen uses the account values which may have future entries. A networth report has to be as of a certain point in time. The Summary Page report is sort of a weird estimate.

    For securities, the summary page uses the current value. And the Networth report uses the history values. This leads to all sorts of confusion.

    -Scott (NOT IK Support)

  5. 5 Posted by dtd on 27 Sep, 2021 03:08 AM

    dtd's Avatar

    The summary screen net worth does not use future entries. (I verified that today).

    Similarly, as you say, the networth report also uses "as of the current day".

    Still, the networth report does not include the loan mortgage amount (even if clicked to be included), which would (after my changes to inactive reports) make the two values match.

  6. 6 Posted by derekkent23 on 27 Sep, 2021 07:22 AM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi dtd

    The detailed report you see when you double click on the Net Worth value on the Summary Page is based on the selection of accounts and date set in the non-memorized Net Worth Report in the Side Bar. This is normally the Current Balance (todays date) unless you edit the date. The date in this report normally auto sets each day. If you do a test changing this date the Summary Page detailed report will reflect this changed date, but the Net Worth value on the Summary Page will be unaffected, it still uses todays date. So yes the two are not really related. If you do test remember to change the date back to today’s date.

    Yes I would expect the Summary Page Net Worth value to include everything related to today’s date.

    Regarding the loan, I don’t have one of those so your observations may be correct, I can’t confirm either way. Maybe others have a loan and can comment.

    I agree with sth comments on security values. The summary page uses the current security price and the Net Worth report uses the last dated history price. Unless something has gone wrong the current and last dated price for a security should be the same. I disagree that the Summary Page report is sort of a weird estimate, its based on the factors already described.

    Hope this helps.

  7. 7 Posted by Stuart Beesley ... on 27 Sep, 2021 08:40 AM

    Stuart Beesley - JUST A FELLOW USER and Toolbox ‘guy’'s Avatar

    @dtd.... I just tested this.. Loans DO appear to be included within the Home Page Summary Total number, the Detailed NW report and also the NW Graph....

    However, it almost fooled me..... I created a test data set and just 1 loan... At first glance, I could see the loan within the report, but my Summary screen total was zero... Then I realised that the £10k loan put £10k cash into my bank, netting to zero.. So it was correct..... Can you clarify your issue?

    PS - you can create/configure your own Home Screen NW total number (of sorts) using my Net_Account_Balances home page extension.....

  8. 8 Posted by dtd on 27 Sep, 2021 09:50 PM

    dtd's Avatar

    I think I understand how the detailed net worth screen works, and in fact, everything is now cool - except for the loan issue.

    I did adjust the date past the first future payment. (i.e. changed 9/27 to 10/2) and then, the loan appeared as a negative in the net worth.

    That said, the "set initial balance" was done on August 13, but the Net Worth (detailed) report doesn't recognize the Loan amount until after the first transaction. So there must be something in the code that ignores the Loan amount until an actual transaction occurs.

    Personally, I consider that an issue, as loans, especially home loans, can be a major part of net worth. It should recognize the loan balance (as a negative of course) even if no transactions have yet been recorded; the initial balance is there.

  9. 9 Posted by dtd on 27 Sep, 2021 09:51 PM

    dtd's Avatar

    Also, I note the net worth graph has a similar issue. On Aug 13, the graph jumps up by hundreds of thousands of dollars, even though I've put in the loan. It's only on Oct 1 that the graph decreases back to the correct value.

  10. 10 Posted by dtd on 28 Sep, 2021 01:10 AM

    dtd's Avatar

    Pursuing this further, the "start date" is extremely pertinent. When I created the Loan on 8/13, it set the start date to 10/1, which was the first payment.

    When I changed start date to 8/13, the account showed up in the detailed net worth report even setting the date to today's date.

    So, i've sussed this out, but I doubt I'm the only person to experience this as frustration. I just tend to say it vs. staying quiet.

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