Investment Buy Transaction Recording

Stephen Dyer's Avatar

Stephen Dyer

13 Jun, 2020 01:35 PM

So, I've been using money dance for a few years now and last year decided to add an investment account to track my shares. All has been going well and reconciliation from my providers statement is working fine. I recently bought two new securities and added them to the 'Register' as Buy actions - all OK. BUT the transactions do not appear in the 'Bank Register' for some reason making my 'Bank Register' balance incorrect. I tried changing the action to BuyXfr but this didn't work either. I tried adding the transaction in the 'Bank Register' manually but then it appeared in the 'Register' as a negative, making the 'Bank Register' balance correct but the 'Register' Cash Balance incorrect. What am I doing wrong, or what did I do wrong when I set up the Investment account?

  1. 1 Posted by dwg on 13 Jun, 2020 09:53 PM

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    I'm a fellow user..

    The bank register is there to facilitate Investment accounts that offer some banking type facilities - like Cheque writing. Hence it exposes the standard bank type register to allow this.

    The Bank Register has no way of displaying Investment type transaction, it really does not understand them and has no way of mapping the transaction to the fields it knows about so does not try to display them, hence why you will not see things like buys, sells etc in the Bank Register.

    Bank Registers work in a totally different way to Investment Registers even though the layout and look is similar.

    Because of this the running balance of the account that the Bank Register shows is meaningless - I personally think it would be better if this could be eliminated from this view. The only useful detail is the transaction itself.

  2. 2 Posted by Stephen Dyer on 14 Jun, 2020 08:26 AM

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    Thanks DWG
    I'll stop using it and beating myself up then. I didn't really see the point of it anyway.

  3. 3 Posted by DavidR on 18 Jun, 2020 01:40 AM

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    I do not think dwg's answer deals fully with your question,
    I do not understand how you got the funds to buy the stocks, but if you used money from the bank account you have to transfer that to your investment account to get what you want on cash in the bank (as well as the funds to buy the new stock). I agree fully with dwg's comments that direct xfr referencing will not work for a securities purchase using funds from a bank account, but your questions seems to be beyond that.

  4. 4 Posted by dwg on 18 Jun, 2020 03:14 AM

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    The Bank register is not a different account to the Investment. There is only one account, the bank register is a view of a subset of data in the investment account and allows for functionality to be available that the Investment register does not support.

  5. 5 Posted by DavidR on 18 Jun, 2020 10:19 PM

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    Thanks dwg, I had not understood the issue correctly.
    I am relatively new to MD and have never looked at the banking register. I will follow Stephen and not do so.

  6. 6 Posted by dwg on 18 Jun, 2020 10:27 PM

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    The banking Register view was added a few releases back, it was in response to users that have an investment account that gives you things like cheque book access to the cash account that are usually associated with such investments so that you could do banking transactions.

    Prior to this people would have set up a separate bank account for this. I think one of the problems with his approach for some relates to online banking where the account type could be significant and if it does not match can impact downloading of data.

  7. 7 Posted by DavidR on 18 Jun, 2020 10:46 PM

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    The way I have always done this, previously in Quicken and now in MD is to define not a bank account but an asset account for the cash held in my investment account. I maintain a zero cash balance in the investment account itself and maintain the cash flow separately in the asset account, including all dividends etc. A big advantage of this is that I can see immediately the cash balance in each of my accounts. I use buyxfr and sellxfr when I am dealing with security transactions.
    My broker does allow certain payments to be made from the investment account (tax payments for example) and while I seldom use this facility, I have. In the asset account, the payments are easily entered as they would be in a true Bank account.

  8. 8 Posted by jakekelly74xmnx on 20 Jul, 2020 01:48 PM

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    I newbie in investing and trading and I have a question... What are the benefits of an investments account? I can`t find an answer at this question. Recently I read a good article about stock market and got my attention. Recently I invested some money in Ikea stock market. I saw that there is a lot of competition, I read this on this good article: about Ikea stock market and investing competition . I don’t know how it will affect me... I don’t know a lot of information, but I want to know more about all this trading and investing thing.

  9. 9 Posted by DavidR on 20 Jul, 2020 02:35 PM

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    I am a fellow user of Moneydance.
    MD has a type of account they call an asset account. They think of it as being used for real estate and other non-security items. But it can be used for cash. I do so for the cash in my securities accounts. One can use the buyxfr and sellxfr transactions in the investment accounts to use the cash asset account. Entering dividends and distributions and so on is I think easier in an asset account than an investment account.
    I suggest you start with the Knowledge Base section on Asset accounts to learn more.

  10. System closed this discussion on 19 Oct, 2020 02:40 PM.

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