Home → Investments →

Investment Register double entry

• Edit

JL

31 May, 2015 01:46 AM

After I downloaded recent transactions from my broker I see that there 2 entries for each transaction.

Can someone explain why this is happening?
Is a normal behavior?

Cash Balance ends up correct.
Plus I had to correct the Category from and Auto Expense category to Dividend Income.
Why it populates like this is any bodies guess.

• Double_entry.png 24.5 KB

1. 1 Posted by Ben Spencer on 31 May, 2015 02:00 AM

   

   I do not believe you are seeing a double entry. You are seeing a dividend transaction where you receive 66.66 and then you are seeing a buy transaction, for the same amount, where this received cash is used to reinvest in the security.

   Ben Spencer
   Infinite Kind Support

   • Edit

2. 2 Posted by JL on 31 May, 2015 02:10 AM

   

   OK.
   I think I understand.

   I do not see this type of entry in Quicken.

   • Edit

3. 3 Posted by Gerald Achor on 31 May, 2015 03:44 AM

   

   JL,

   You can also set the Default Category for the Account to what ever you want in the Account Info Screen/Window when you edit the Account. I imagine that your Default Category is Auto Expense which might be your first category in your Category List.

   I have my Brokerage Accounts set to my defined Taxable Dividends Category; since most of my transactions are dividends

   I know that it appears odd in some cases as the transactions are downloaded; but one can always change the category when one edits a transaction for one reason or another.

   By the way, what do you see in Quicken?

   Jerry
   .

   • Edit

4. 4 Posted by dwg on 31 May, 2015 05:34 AM

   

   If you are downloading and importing a QIF file the contents of the file will provide information on the way the transaction is being presented by the broker.

   Des

   • Edit

5. 5 Posted by JL on 31 May, 2015 08:38 AM

   

   Thanks to all
    I made the change in the Edit screen.

   dwg
   The download is a Direct Connect not a QIF.

   • Edit

6. 6 Posted by dwg on 31 May, 2015 09:16 AM

   

   Fair enough.

   FWIW A Dividend reinvest transaction is really just two transactions rolled into one:

   1. A Dividend Transaction and
      
   2. A buy transaction

   I doesn't really matter which you use. Circumstances can often dictate. For example where I am if you participate in a Dividend Reinvestment plan, a price is often struck for the shares and as there is only whole shares you are often left with a small balance which is rolled over to the next dividend payment, in which case using two transactions allows for this, and I can hold the small balance in the investment account to be added to the next dividend received.

   • Edit

7. 7 Posted by JL on 31 May, 2015 11:09 AM

   

   I looked at the Transaction Details for both entries.
   Most on it was the same info but each had different xfer types

   One showed xfer_type: xfrtp_buysell and the other was xfer_type: xfrtp_dividend for the Mutual Fund transaction.

   OK thanks.
   Still getting use to using MD.

   • Edit

8. System closed this discussion on 19 Mar, 2016 04:55 AM.