Home → Investments →

UK Pension funds

• Edit

good.ascot

22 Jun, 2023 12:50 PM

I cannot make any connections to my various investment types as in UK and my provider cannot link to Moneydance. These are pension funds in SIPPs and saving funds in ISA's.

I have added an account (eg Dave's SIPP) and set balance to be the number on the latest monthly report. I have now received the next months report and cannot find a way to input that new number to that it shows the new balance for this month and the previous balance for previous month.

How can I update the value of this SIPP manually each month with a record kept for that value each month?

Many thanks
Dave

1. 1 Posted by Stuart Beesley ... on 22 Jun, 2023 01:35 PM

   

   Correct. U.K. banks do not offer OFX direct connections and MD md+ does not allow users to connect to U.K. banks.

   NOTE some banks do offer qif/ofx manual file downloads. Which bank / FI are you using? I know that HL does NOT do this.

   Anyway,

   How is your MD account setup? As a bank/asset account, or an Investment account?

   You probably need to create a category called “investment asset growth(loss)”. Then in the bank account, each month, create a new txn that adds or removes ‘money’ to that category. If it’s an investment account then use the Xfr type to do the same thing.

   TIP: do you buy / sell assets often in your SIPP? If not, try this…

   • create investment account

   • create security(s) for each of your SIPP investments (tools/securities) and set the ticker symbol correctly.

   • add these securities to the account.

   • ‘BUY’ the securities.

   • download and setup QuoteLoader extension. Set it to grab daily prices for your SIPP securities.

   • now your values will auto update daily.

   • Edit

2. 2 Posted by Mike Bray (Quot... on 22 Jun, 2023 01:41 PM

   

   Hi Dave

   What types of Account have you set up for these?

   Ideally you have set them up as Investment Accounts.  Doing this you can
   create a security for each account and add them to the accounts, then
   enter a buy for 1 share and a price to reflect the current value of your
   account.

   e.g
   Investment Account SIPP
        security SIPP
        transaction buy 1 share at value
   Investment Account ISA
        security ISA
        transaction buy 1 share at value

   If you do this all you have to do each month is click on the account,
   click on the Security Detail, click on History and enter the new value
   of your account and click on new.  This will give your share a new price
   that will reflect the value of your account

   Mike
   On 22/06/2023 13:52, good.ascot wrote:

   • Edit

3. 3 Posted by good.ascot on 22 Jun, 2023 05:11 PM

   

   Hi Mike
   This sounds perfect but for some reason I cannot seem to make it work.This is what I have done
   Set up an investment account called Dave SIPP with an initial balance of the funds value input manually (on 1st June). Then in security detail, I have added a new security called SIPP and using the history part. I don't know how to buy 1 share at value. Could you show me step by step please. Thanks

   • Edit

4. 4 Posted by Mike Bray (Quot... on 23 Jun, 2023 10:20 AM

   

   Hi Dave

   1. Click on your SIPP investment account
   2. On the right click on Register at the top
   3. Top right click on New Transaction
   4. The transaction should appear at the bottom
   5. In the second column it should show Xfr, change this to Buy
   6. In the 4th column it should show your security
   7. In the 5th column select the Category you wish to use for this
   transaction, choose something like Investment
   8. Where it says Shares put 1
   9. Where it says Amount put the value of your SIPP
   10. Press enter.

   If you click on Portfolio View it should show your account with one
   security which has 1 unit and its value is the value of your SIPP. The
   cash value should be zero as you set the Initial Balance to the value of
   your SIPP.

   If you run into issues let me know and include some screen shots if
   possible.
   Mike

   On 22/06/2023 18:11, good.ascot wrote:

   • Edit

5. 5 Posted by good.ascot on 24 Jun, 2023 09:38 AM

   

   Thank you Mike,

   I got there in the end. I would be nowhere without your help.

   Really appreciate it
   Cheers
   Dave

   • Edit

6. System closed this discussion on 23 Sep, 2023 09:40 AM.