Setting up an Investment account in MD

Charles's Avatar


31 May, 2023 11:37 PM

I thought I could figure investment account setup. I need help. I have tried looking at the Manual and online, but I have not had any success.
I have a Putnam account with 4 securities in it. I setup a Putnam Account with the four securities; however I tried to setup a Transaction showing the Beginning balance for the first security, but do not see action choices to enter the beginning balance. When I open a new transaction, I am unable to determine, what individual security data from my Putnam Statement goes where
I have added the 4 securities, but do not know if each needs to be a separate Account or Category or neither. Somehow, I want to be able to see all transactions for each security, total shares,current value, cost basis and total value for the total Putnam Account.
I have worked several hours trying set this up, as I have 2 other Investment accounts to bring into MD.
I am really concerned how eventually, I will be able to download transactions from individual brokerage accounts.
I feel I need step by step help, with the limited computer skills I have. Are there any video's available.
Please help this "sinking ship".

  1. 1 Posted by Ryan on 11 Jun, 2023 11:41 PM

    Ryan's Avatar

    Here's how I would do it:
    The investment account initial balance would need to be the total of each purchase price of the 4 securities. You can check this by going to "edit account" and entering the initial balance. This will update the cash balance in your investment account register.
    Then you need to enter a purchase transaction representing the initial purchase transaction of each security - on the original date purchased.
    You can then change your security price to the current value.

  2. 2 Posted by dwg on 11 Jun, 2023 11:57 PM

    dwg's Avatar

    I'm a fellow user.

    A beginning balance in Moneydance is a beginning cash balance, never an initial share holding. As Ryan said one way of getting the initial funds is to edit the Account Information.

    Now for your initial holdings, and by initial holdings I mean the stock you own before using financial software like Moneydance.

    If you are talking about mutual funds then I would do what Ryan has suggested.

    If however these are shares I would enter each buy/sell transaction. This is because there are different methods of handling the cost basis and having all buy/sells facilitates this, but this is irrelevant with funds.

    In general terms for every security you own you set up the security information once and once only, even if you own the security in multiple accounts, there are cases for doing it differently but it is unusual and if you need to do that you are likely to be experienced and understand the ramifications. You then just assign/allocate the security to each account you will be buying selling that security in.

    There are basic Knowledge Base articles on using Moneydance, including investments the entry point is:

    They will not cover the more advanced Investment activities, I doubt if Moneydance has staff experienced in those so it will be the more advanced & experienced users who can provide guidance.

  3. System closed this discussion on 11 Sep, 2023 08:00 AM.

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