DivXfr in same acct, different investments?
Hi,
I am confused about this setup. I've an account with multiple investments. For some of the investments, rather than reinvesting dividends, the dividends go to buy shares in another fund within the same account. It seems that DivXfr is the way to do this, but not sure how the "transfer" entry works and the fee category. (I also have multiple accounts, some accounts have the same investment as another. For example, both my Roth and Rollover IRAs may contain some of the same investments - thus breaking everything up into separate accounts isn't feasible or correct)
Under Transfer, I can't select current account, so I select "Transfers" and under fee category, it gives me the option of selecting the investment I want, but not sure it sticks as it appears blank once entered and if I re-edit, it auto-populates to ATM. My balance is off and I'm certain it's the way things are being recorded, but not sure how to fix.
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1 Posted by Tom Freeman on 23 Sep, 2015 06:51 PM
I am assuming that you are using your dividends in one security to buy another security.
If the securities are in the same account, the dividend comes in and increases the cash balance of the account and this cash balance is used to purchase the new security. Use a dividend transaction associated with the dividend giving security and a buy transaction for purchase.
If the securities are in different accounts, use a divxfer to place the proceeds of the dividend in the other account and use this cash to purchase the new security.
Are you downloading theses transactions or manually entering them. Atm withdrawal (or the first category alphabetically on you list) is the default category. Unless there are fees associated with transferring cash from one account to another you should apply the fees to the actual buy transaction.
If you investment accounts have separate account numbers then they should be listed as separate accounts. You can have the same securities in different accounts. And you can move funds from one account to another.
Once you have everything set us and running it will make more sense.
Tom Freeman
Infinite Kind Support
2 Posted by -Kevin N. on 23 Sep, 2015 08:16 PM
Hi Lynn,
Just to add to Tom's informative reply...
If you hold the same security in more than one account, DO NOT create multiple instances of said security. Simply create the security, then ADD the security to each account that it is held in.
HTH -Kevin N.
System closed this discussion on 19 Mar, 2016 05:00 AM.