Transfer assets between accounts



09 Mar, 2019 09:09 PM

Recently I directly transferred assets from 1 brokerage account to another. It doesn't seem that Moneydance 2019 can support this kind of transaction. It looks like MD assumes the asset is first sold then the cash transferred. Am I missing something? If not and this isn't a capability, is it a function that can be added? Thanks...

  1. 1 Posted by -Kevin N. on 10 Mar, 2019 12:17 AM

    -Kevin N.'s Avatar

    Hi Brian,

    What you are describing is one of the long-standing shortfalls of how Moneydance is incapable of properly handling a rather commonplace investment transaction.

    It's not clear from your post whether or not the brokerage that you have moved all of your investments to is a new brokerage account or an existing brokerage account with existing holdings.

    If the new brokerage is a new brokerage account without any existing holdings, you can just change the particulars of the account in Moneydance to reflect the new brokerage. You could make a annotation in the 'Comments' section of the account's info form as to the transfer data and such.

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

  2. 2 Posted by BRIAN DIERKING on 10 Mar, 2019 01:17 AM


    Thanks Kevin, unfortunately both existing brokerage accounts in MD so thought about your idea, but couldn't make it work. This is one shortfall, another is not recognizing duplicate transactions. Oh well...

  3. 3 Posted by jrs.subs on 11 Apr, 2019 06:07 AM

    jrs.subs's Avatar

    I have the same issue - two existing brokerage account. Consolidated all holdings into one of the accounts.

    I can't think of an elegant solution - if I transfer at current prices, I lose the cost base. If I transfer at original cost, I end up realising a gain/loss.

    Any other workarounds anyone else can think of?

  4. 4 Posted by dwg on 11 Apr, 2019 07:06 AM

    dwg's Avatar

    I'm a fellow user.

    There is no way other then sells and buys for moving value in Moneydance, so I can think of no alternative method.

    I do disagree with one of your statements.

    If I transfer at original cost, I end up realising a gain/loss.

    If you perform a sell at the original cost then Sale Price - Purchase Price = 0

    There is neither a Capital Loss or Capital Gain within Moneydance. What is affected is being able include historical value changes going forward.

    There have been some discussions with the Developer, specifically, on how the Moneydance software could transfer securities between accounts while maintaining historical data and being able to provide correct reporting. These discussions were interrupted when Moneydance 2019 was released with the developer wishing to concentrate on the new version.

  5. System closed this discussion on 11 Jul, 2019 07:10 AM.

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