Accounts that come from statements don't have a live balance the way a connected bank does. Instead, we use the balance the statement prints, so your net worth starts from a real number.
Balances read from statements
When a statement shows a closing balance, or a running balance beside its transactions, we use it as the account's balance on that day. You see it under the account in the Confirm your accounts step of the upload, for example "Balance on Aug 21: $2,345.67, from the closing balance on the statement". For a credit card or loan it reads as the amount owed.
On Net worth, that balance is true on the statement's date, and the transactions after it carry it forward to today. Uploading an older statement never replaces a newer balance.
Typing a balance in
Most CSV exports don't include a balance. When a file has none, the upload shows one optional box, labelled with the day it should be true on ("Balance on …" or, for a card or loan, "Amount owed on …"). Type what it was on that day:
- For chequing or savings, the balance. Put a minus sign in front if the account was overdrawn.
- For a credit card or loan, the amount owed. Put a minus sign in front if you were in credit.
Leave it empty if you're not sure. You can add it later: on Net worth, an account with no balance says it's not counted until it has one, with an Add balance button.
Accounts kept up to date by a bank connection never ask, because the bank sends their balance.
Card statements and the "Did you pay?" check
A card statement shows what you owed on its closing day. You usually pay it before the due date, but that payment only appears on the card's next statement. So we look for it in your other accounts: a payment from your chequing or savings, after the statement closed, that says it's a payment and names the card's bank or its last four digits.
When we find one, Net worth takes it off and says so under the card, for example "Aug 24 statement paid off — $700.00 on Sep 10 from TD Chequing".
When the due date has passed and we haven't seen a payment, the top of Net worth asks "Did you pay your … statement?" If the statement doesn't print a due date, we wait 21 days after it closed. Your answer is final for that statement, so we only ask once:
Answer | What happens |
|---|---|
Yes, in full | The card counts as paid off: nothing owing as of today. |
Part of it | Type what's Still owing today, and that becomes the card's balance. |
Not yet | The statement's amount keeps counting as owing. |