Which type of account to use?

Adam Bellchambers's Avatar

Adam Bellchambers

16 Oct, 2017 01:56 PM

I have a PENSION fund which under the covers is linked to multiple investment funds - the breakdown of the multiple investment funds regularly changes, both in terms of the investment funds themselves and the percentage of each investment fund relative to the total PENSION fund - but I only want to track the total of the PENSION fund in Moneydance, which naturally rises/falls, but I'm not sure which type of Account to use? - what I really want is an Account that has a total that I can simply change (say) on a monthly basis, but I would also like to see a history eg if I change the value on the last day of each month, what the value was at the end of previous months was? - any suggestions?

  1. 1 Posted by -Kevin N. on 16 Oct, 2017 02:44 PM

    -Kevin N.'s Avatar

    Hi Adam,

    The likely choice would be a Asset account.

    You could enter an increase (or decrease) amount each month.

    The 'Balance' column of the account will reflect the running balance.

    -Kevin N. (not a member of MD support)

  2. 2 Posted by derekkent23 on 16 Oct, 2017 02:53 PM

    derekkent23's Avatar

    I am not support staff, just a user.

    It sounds like you could set up your Pension Fund as if it is a Bank Account. At the end of each mouth perform a transaction that adds the gain or loss in that mouth to the account.
    A “Net Worth” graph could then be used to track this account over time.

    If you need more detail just post.

    Hope it helps.

  3. 3 Posted by Adam Bellchambe... on 16 Oct, 2017 03:31 PM

    Adam Bellchambers's Avatar

    Thanks to Kevin & Derek ...

    I suspected a monthly manual/proxy up/down Transaction would the way to do it (I've actually used an Asset class) - I was just making sure I wasn't missing a trick ...

    An Account for which the "Current Value" could be entered at any time, which i) is then picked up as the Balance but ii) also retains previous values for the date they were entered, would have been perfect ...

    Thanks again ...

  4. System closed this discussion on 15 Jan, 2018 03:40 PM.

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