Historical Net Worth - Adding past asset balances
I just noticed Plaid is working nice with Betterment, and I finally linked my Betterment investment account to YNAB.
My Net Worth report over the course of using YNAB is incorrect, and I'd like to fix it. YNAB is treating today as the starting balance so it looks like I suddenly had an increase in net worth when I didn't.
I can't figure this out: How do I update my Betterment account's balance for past months so that my Net Worth report shows accurate amounts and trends since I first starting using YNAB?
YNAB doesn't actually play well with linked investment accounts. So you might as well not have it linked, as all it's really capable of is getting that starting balance.
If you want to have historical monthly account balances for the past from before you linked the account, change the date and starting balance to the first month you want the value for. Then each month you will need to add a delta transaction to change the balanace. The easiest way to do that is to do reconciliation adjustments to each balance and then adjust the date. It's a manual process.
Repeated reconciliation can do it but it's a little awkward. My suggestion:
1. Delete all transactions and unlink from Import. (As @nolesrule indicates, it doesn't work.)
2. Enter an inflow transaction for the desired amount dated for when you started.
3. Continue entering inflow transactions dated in successive months in the amount of (desired amount that month - working balance).
A while back I actually pulled in historical balances for the past decade to fill out my net worth history... I did that because I was moving from using a single all-encompassing Quicken file for over 25 years, and didn’t want to lose all of that history. I would have gone back the full 25 years, but YNAB seemed to barf on manually importing or handling data prior to 2010. My approach was to create a few representative segments, as accounts - “Historical - “ liquid, retirement, hard assets, auto debt, house debt, other debt... and created CSV exports from Quicken with end-of-month net balance delta transactions for those groupings of accounts. I imported those “accounts” into YNAB, with balances dropping to zero in my first month of actual YNAB use... and then I “closed” the historical accounts.
The end result was a full decade of net worth history... and then, as others have noted, I manually track investment account balances, right-clicking on the account names in the web interface and simply updating the balances at least once a month.