tag:infinitekind.tenderapp.com,2009-01-14:/discussions/investments/1041-posting-distributions-from-investment-accounts-to-the-investment-account-and-the-bank-accountInfinite Kind: Discussion 2018-03-17T02:51:02Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/401814712016-06-23T22:16:41Z2016-06-23T22:16:41ZPosting distributions from investment accounts to the investment account and the bank account<div><p>Hi Joe,</p>
<p>The way that I enter these txns is to enter a 'Div' txn whenever
Dividend and / or Cap Gains distributions are paid out.</p>
<p>Doing so, increases the 'Cash Balance' by the value of the
distribution(s).</p>
<p>Since my particular brokerage firm (Fidelity) requires a Money
Market Fund to sweep any cash into, I then enter a 'Buy' txn of
Money Market Fund shares equal to the amount of the
distribution.</p>
<p>This in turn zeros-out the 'Cash Balance'. My 'Cash Balance' is
almost always zero in my Investment accounts.</p>
<p>Using my method requires no entry into the 'Bank Register' of
the Investment account in Moneydance.</p>
<p>HTH -Kevin N.</p></div>-Kevin N.tag:infinitekind.tenderapp.com,2009-01-14:Comment/401814712016-06-23T23:02:50Z2016-06-23T23:02:50ZPosting distributions from investment accounts to the investment account and the bank account<div><p>Kevin,<br>
I failed to explain that I meant “retirement
distributions” from a portfolio account of securities. These
are not dividends or capital gains distributions.<br>
Any suggestions for this?<br>
Joe Stroud</p></div>Joe Stroudtag:infinitekind.tenderapp.com,2009-01-14:Comment/401814712016-06-23T23:21:00Z2016-06-23T23:21:00ZPosting distributions from investment accounts to the investment account and the bank account<div><p>Hi Joe,</p>
<p>My wife made a $2500 withdrawal from her IRA last year.</p>
<p>Step 1 Enter a 'Sell' txn of 2500 shares of the Money Market
Fund.<br>
Doing so increased the 'Cash Balance' to $2500.</p>
<p>Step 2 Enter an 'Xfr' txn with the proceeds going to her
checking account. I selected her actual checking account from list
of items in the 'Transfer' field drop-down list. I entered the
$2500 dollar 'Amount' of the 'Xfr' as a negative value.
-2500.00.<br>
Doing so zeroed-out the 'Cash Balance' and automatically credited
her checking account.</p>
<p>Again, no fussing with the 'Bank Account' register.</p>
<p>HTH -Kevin N.</p></div>-Kevin N.tag:infinitekind.tenderapp.com,2009-01-14:Comment/401814712016-06-23T23:36:43Z2016-06-23T23:36:43ZPosting distributions from investment accounts to the investment account and the bank account<div><p>Kevin,<br>
If Taxes were withheld, how would you account for them while
showing the gross amount as being a “Retirement
Withdrawal”? The net is then credited to the bank account.
How do I do this?<br>
Joe</p></div>Joe Stroudtag:infinitekind.tenderapp.com,2009-01-14:Comment/401814712016-06-23T23:54:00Z2016-06-23T23:54:00ZPosting distributions from investment accounts to the investment account and the bank account<div><p>Hi Joe,</p>
<p>If the wife had a tax withholding (she didn't) I suppose I would
enter it as a positive value in the 'Fee' column in the 'Xfr' txn;
selecting the desired 'Tax withholding' category from the list of
items in the 'Fee Category' drop-down list.</p>
<p>Doing so should credit the selected 'Fee Category' and reduce
the amount of the transfer that appears in the receiving account by
the amount of the 'Fee'.</p>
<p>HTH -Kevin N.</p></div>-Kevin N.tag:infinitekind.tenderapp.com,2009-01-14:Comment/401814712016-06-24T00:12:24Z2016-06-24T00:12:24ZPosting distributions from investment accounts to the investment account and the bank account<div><p>Thanks, Kevin, but that doesn’t accomplish what I
need.<br>
1) The gross amount is not posted to the “Retirement
Draws” account, and<br>
2) The taxes withheld put in the “Fees” field
doesn’t allow the designation of the expense account,
“Taxes - Federal.”<br>
But thanks anyway.<br>
Joe Stroud</p></div>Joe Stroudtag:infinitekind.tenderapp.com,2009-01-14:Comment/401814712016-06-24T08:33:52Z2016-06-24T08:33:52ZPosting distributions from investment accounts to the investment account and the bank account<div><p>Joe,</p>
<p>I'm not sure what you want to achieve but here is an alternative
method that may give you some ideas.</p>
<ol>
<li>
<p>put in the sale transaction to get the cash into the register of
the brokerage account</p>
</li>
<li>
<p>Use a Xfr transaction to move the funds to a category created
for the purpose, for example it could be call something like
Retirement drawdown</p>
</li>
</ol>
<p>FWIW it should be possible to combine the the about tw actions
using a SellXfr transaction if desired.</p>
<ol>
<li>In the account that the funds are to be deposited to create a
split transaction, the Gross amount can be assigned to a category
like Retirement Income:annuities.</li>
</ol>
<p>You enter an additional split for the Tax paid and naturally the
net amount is then deposited into your bank account.</p>
<p>Thus the entry in your bank account is done the same way as
salary/wages would be but with appropriate categories.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/401814712016-06-24T11:37:08Z2016-06-24T11:37:14ZPosting distributions from investment accounts to the investment account and the bank account<div><p>dog,<br>
Thanks. That is what I need to do.<br>
Joe</p>
<p>Sent from my iPad</p></div>Joe Stroud