Selling Securities
I have a stock grant account in my investments where I keep
track of stocks that have been promised to me by my company. As
they vest, I "sell" them in the register, then use the "bank
register" associated with that account to transfer the funds to
another account and document the taxes paid on the sale. The
problem I have is that there seems to be no way to show the sale of
the stocks as income. The category field is greyed out and as a
result, I can't capture these vestings as income to me and my
reports are always off. Is there a way to capture security sales as
income? If so, please explain. Otherwise, I suggest MD allow free
access to the category field when selling securities so users like
me can categorize the sale.
Thanks much,
Rick
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1 Posted by dwg on 15 Mar, 2015 08:52 PM
The sale of stocks normally is a capital gain of the difference between bought and sale amounts (with some adjustments) and hence appears on the capital gains report, rather than as an income amount, your case is of course different.
If you are willing to enter an additional transaction I can think of a way of getting the data into your Income & expense report.
I have an expense category set up called Tax: Investment Reporting. This is just used to satisfy the double entry requirements. On the Income side, you create an appropriate Income category for the sale of your vested shares.
You then enter a transactions with the following attributes:
Action: DivXfr
Category: "your created Income category"
Transfer: Tax: Investment Reporting
Other fields are entered as appropriate.
You have thus created a transaction that has passed through the account, the amount will now appear in your Income and Expense report, but the balances have not changed in the register. There will be an amount in the Tax:Investment reporting category but you never use this category in any report.
Des
2 Posted by wrddmd on 16 Mar, 2015 08:39 AM
Dee,
Thank you for your suggestion and information about the sale appearing on the capital gains report. I didn't realize that and it may be my answer. I'll tinker with these scenarios tonight and let you know if I have more questions. Thanks!
Regards,
Rick
3 Posted by wrddmd on 19 Mar, 2015 10:13 PM
Hi Des,
Can you provide any info on the following? I posted on-line but haven't received any responses. Thanks
I feel really stuck as I ran into the issue where I am unable to clear the share matching window that allocates security sales to lots. Unfortunately, I can't even look at the register as every time the account is selected, the matching window pops up. After entering the allocations and ensuring they match, a second window pops up indicating that I have entered an incorrect number of shares. Additionally, the windows matching window can not be cleared without exiting Moneydance. I'm getting a bit frustrated as I'm trying to reconcile a few investment accounts and now I just can't get this done. Is Infinitekind aware of this issue? If so, is there a fix in the works? Some response on this issue would really be appreciated!
Thanks,
Rick
Regards,
Rick
4 Posted by dwg on 20 Mar, 2015 04:51 AM
I've only tried some simple lot matching on my test machine and didn't encounter any problems, however some users have reported issues with lot matching in the "Problems" forum, so you might want to follow that discussion.
Des
5 Posted by wrddmd on 20 Mar, 2015 02:19 PM
Thank you.
Regards,
Rick
6 Posted by cookie87 on 22 Mar, 2015 02:33 PM
Lot Matching continues not to work in the current stable build (1175). Following the directions perfectly only ever results in the attached screen shot message.
7 Posted by Tom Freeman on 22 Mar, 2015 03:57 PM
There is a bug in the lot match for some files that were converted from earlier versions of moneydance. There is a bug ticket in for this.
8 Posted by Scott Meehan on 23 Mar, 2015 09:15 PM
Hi Everyone,
Unfortunately this is a bug in Moneydance. There's an existing ticket in our ticketing system regarding this issue, so I've attached it to this discussion and the developers will be looking into it.
Please let us know if we can be of further assistance!
Scott Meehan
Infinite Kind Support
9 Posted by Ian L on 30 Mar, 2015 05:54 PM
Hi All,
I think we've fixed the issue with the lot matching window in build 1187 of Moneydance, which is available here:
http://infinitekind.com/preview
Can you install that version and let me know if you are still having trouble?
Ian
Infinite Kind Support
10 Posted by wrddmd on 01 Apr, 2015 06:24 PM
Hi Ian,
Just downloaded and tried. It's build 1188, not sure if very different from 1187, but it worked. Thanks much!
Regards,
Rick
11 Posted by Scott Meehan on 01 Apr, 2015 06:38 PM
Hi Rick,
I'm glad to hear that it's working for you now! Please let us know if we can be of further assistance!
Scott Meehan
Infinite Kind Support
12 Posted by barry on 03 Apr, 2015 10:48 AM
Ian,
I have tried the preview version 1188 and it has not solved my problem which is similar. I have tried to sell a number of lots in a security and unable to get past the allocation screen. This screen keeps appearing and only a force quit on Moneydance is able to close it.
Attached is the window which shows the lots correctly allocated.
Do you think this is a new problem (therefore a new ticket) or the same?
Regards
Barry
13 Posted by Ian L on 03 Apr, 2015 03:07 PM
Hi Barry,
I'm not able to duplicate this on my computer. Are you sure the upgrade to 1188 took? Could you check your version number to make sure you are on 1188?
Ian
Infinite Kind Support
14 Posted by barry on 03 Apr, 2015 03:47 PM
Ian,
I can confirm that I am using 2015 Build 1188. I had a look on the forums and that is where I got the pointer to build 1188 as a potential solution. i also used the Enter key for each row of the lots allocation window and still it repeats. It also does not matter whether you click on Ok or Cancel.
Regards
Barry
15 Posted by Tom Freeman on 03 Apr, 2015 08:52 PM
Barry
Is this the only lot you are trying to match, or does the lot match box switch to another sell transaction when you click OK.
When I downloaded 1188 I had the same issue on a test case. I had to click on the sale to highlight it then allocate. The lot match opened up the next sale and told me I had allocated the wrong amount. I had to select this sale and allocate these then click ok for the program to accept both.
Tom Freeman
Infinite Kind Support
16 Posted by barry on 12 Apr, 2015 04:02 PM
Tom,
it was for one sale of the same security. It also does not matter it it is from one lot or spread across multiple lots. In order to get this to work I have had to stop using lots and use Avg Costs.
Regards
Barry
17 Posted by david_consult on 13 Apr, 2015 05:29 AM
Hi,
My issue refers back to the original post at the start of this thread made by Des on 15-Mar-2015.
If I am paid out part of my Investment, I am charged Tax at source e.g. $20,000 paid out but $2,000 is allocated to Tax and $18,000 for use in my Budgeting.
Scenario 1: If I transfer the full $20,000 from my Investment Account to my Bank Account, I need to make an entry for Tax expense of $2,000. The Income is not shown in my Budget as Des mentions, but the Tax is reflected in my Budget. Result, my Budget does't balance.
Scenario 2: If I transfer $18,000 from my Investment Account to my Bank Account and I transfer the $2,000 Tax expense from my Investment Account, again the Income is not shown in my Budget, but the Tax. Result, my Budget does't balance.
Scenario 3: If I transfer $18,000 from my Investment Account to my Bank Account, again the Income is not shown in my Budget, but now my Net Worth is incorrect and my Investment Account is incorrect because the Tax is unallocated. Now the Budget records neither the Investment Income nor the Tax charge.
I did notice that when I use the Xfr "Action", the "Transfer Fee Category" has an upper and a lower selection. If I choose the upper category to be my Bank Account, the funds move correctly to where they will actually be paid. If I use the Income account in the upper category, the Budget entry is correct but the Bank Account obviously has not been credited with the amount. If I choose the upper category to be my Bank Account and the lower category to be the Income Account, the funs are transferred into my Bank Account but nothing appears in my Budget Income account. When I reopen the transaction, I find that the lower category has reverted to the default "ATM Withdrawal".
It would help if this lower category could be switched on to solve the problem, but I am not sure if this would cause the Net Worth calculation to become incorrect.
Please advise.
System closed this discussion on 19 Mar, 2016 04:55 AM.