Setting up a brokerage account

Rob's Avatar


27 Jun, 2023 03:41 PM

To say I am confused would be an understatement. I am a bit confused and a lot of bit frustrated. I have a brokerage account that has some securities and a checking component that I use for day to day expenses as well as bill pay.
It looks like the transactions downloaded, BUT there are two tabs at the top. Register and Bank Register. The Bank Register has nothing in it. The Register appears to have all of the transactions however there is no payment and deposit fields. The balance is way off it doesnt look like the debits are subtracting as they should. Deposits are not being entered as deposits so the balance is a negative when it should be substantially a positive. I do not even know where to begin with this mess

I have used Quicken for years and honestly this is turning out to be extremely time consuming and unhelpful. It is also frustrating that I need to e-mail a question to be randomly answered by anyone. Very strange

  1. Support Staff 1 Posted by Maddy on 27 Jun, 2023 04:06 PM

    Maddy's Avatar

    Hi Rob,
    Thank you for contacting Moneydance support.

    Firstly, please note that when creating public threads as you did here and also here you can receive replies from anyone in the public forum, especially our knowledgeable users who tend to help a lot there, to be fair.

    If you prefer not posting to the public forum and you wish to create a 'private' thread, you can do so by setting the discussion to 'private' here.

    Generally, the Register tab in Investment account shows all transactions in one way or another, however this register view does not have the ability to enter many of the banking type transactions, so they are generally shown as xfr types of transactions.

    The banking register is specifically for the entry of transactions that the investment register cannot handle. It can do splits, foreign currencies etc but it does not understand investment actions. This register view is effectively a subset view of the transactions, so it does not show all transactions only those it understands.

    So, my questions are:

    • which register are you looking at?

    • Did you set up your investment accounts as indicated here?

    • Did you add the relevant securities as outlined here?

    Generally, adding a security to an investment account simply makes that security available for use within that investment account. Technically adding a security to an investment account creates a sub account in the investment account priced in that security as a place to hold the number of shares in the security you own.

    After you add a security to an investment account you need to enter a buy transaction to increase the number of shares you own. Go into the investment register and click the new transaction button. Set the type of the transaction to Buy.

    This will reduce the amount of cash in the investment account to pay for the buy. If you are simply wanting to reflect preexisting holdings you can set the initial cash balance of the investment account to cover these buys. To do this go into the investment account and select Edit Account from the Account menu.

    Finally, there are two methods for automatically updating security prices.

    The extension Quotes and Exchange Rate Updater (you should use Yahoo as the source) and the Quote Loader which uses Yahoo and FT.

    You can download and install one or the other extension by navigating to Extensions->Manage Extensions

    It might be useful to this thread post 51.

    Also, you could download the PDF attached to that post and have a read and take a look at the YouTube video to get an overview using the link on page 1 of the PDF.

    I hope this information is helpful. Please let us know if you have further questions or need more assistance.

    Maddy, Infinite Kind Support

  2. 2 Posted by r3hoover3 on 27 Jun, 2023 04:14 PM

    r3hoover3's Avatar

    Honestly, not at all helpful.
    I was expecting for the cash side of things to download separately and look like the registry for other bank accounts. With the exception of the security generated dividends showing a sort ofnpass through as everything is set up to reinvest. As I indicated previously, this is an account I use to hold securities and perform regular banking type transactions. This will take me forever to figure out waiting for email responses.

    Sent from Proton Mail mobile

  3. 3 Posted by r3hoover3 on 27 Jun, 2023 04:20 PM

    r3hoover3's Avatar

    I am about ready to abort in frustration with this. I was admittedly not prepared to have to figure out so much of the mechanics of this software

    Sent from Proton Mail mobile

    -------- Original Message --------

  4. Maddy closed this discussion on 28 Jun, 2023 12:07 PM.

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