this is really a mess

glennauve's Avatar

glennauve

22 Dec, 2018 05:05 AM

Hello. I am new to your software and I am trying to set up my accounts. I downloaded data from my Ameriprise account which only goes back to September. I can't figure out how to set things up to reflect the correct value of my various investments. How can I set things so that this account reflects the actual values?

  1. 1 Posted by derekkent23 on 22 Dec, 2018 08:05 AM

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    I am not support staff, just a user.

    If a account does not have a full account history from opening you need to add an initial balance. Highlight an account in the list on the left (side bar) click ACCOUNT - EDIT ACCOUNT and fill in the Initial Balance box. Do this for each account.

    Hope this helps

  2. 2 Posted by glennauve on 22 Dec, 2018 01:23 PM

    glennauve's Avatar

    Thanks for the reply. Yes, for regular bank accounts this is a very simple process. However, the account I am trying to fix is an investment account that has lots of different securities. Figuring out how to get the software to correctly show the proper values for each investment in my account is the problem.

  3. 3 Posted by dwg on 22 Dec, 2018 10:16 PM

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    I'm a fellow user.

    With investment accounts it depends on how far you wish to go, for example you could decide that you want/need all purchase transactions, or it may suffice to have an opening balance. An opening balance can work quite well for funds but for shares you often need the purchase data.

    If you can live with just having an opening balance, then you use the initial balance to get the $$'s right then you enter a Buy transaction just prior to your downloaded data that reflects what you owned at that stage.

  4. Support Staff 4 Posted by Tom Freeman on 22 Dec, 2018 10:42 PM

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    Her is the knowledge base article on entering your holdings.

    http://help.infinitekind.com/kb/investment-accounts/entering-holdings

    Direct connect is usually only recent transactions available with the time period determined by the broker. Some brokers allow for transaction history to be downloaded in qif or ofx format. These can be imported into your investment account.

    The knowledge base article for that is located here:

    http://help.infinitekind.com/kb/online-banking-and-bill-pay/manual-...

    Tom Freeman
    Infinite Kind Support

  5. 5 Posted by glennauve on 22 Dec, 2018 11:27 PM

    glennauve's Avatar

    Thanks. That does help some. I wish I could just enter the securities in the register view but it looks like I have to do an "add security" thing first for it to appear in the list of securities. I don't know why I can't just enter the ticker symbol and have the info updated from the internet. I am finding that the investment section really is the weak link in this software

  6. 6 Posted by dwg on 22 Dec, 2018 11:45 PM

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    The security definition and specific information on a security is held separately from the investment accounts. An investment can be held in one or more accounts, by taking this approach you do not need to have duplicate data if you have the same investment through multiple accounts.

    A ticker symbol is only unique on a specific exchange, the same Ticker can therefore be for a completely different company on different exchanges.

  7. 7 Posted by glennauve on 22 Dec, 2018 11:59 PM

    glennauve's Avatar

    OK. I guess I am finding that this part of the software just doesn't seem very user-friendly to me. When you create an account it would be nice to have a quick way to enter initial holdings but that doesn't seem to be possible. At least you could enter the symbol and have a list of possible candidates to select from if the same symbol appears on more than one exchange. I guess I will just need to decide at some point if it's worth all of the trouble to enter so much data by hand

  8. 8 Posted by dwg on 23 Dec, 2018 12:20 AM

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    Moneydance can be more hands on than many other programs, but as it has users World Wide it cannot be canned as that stops it working in some countries, for example if there was a transaction type of dividend that only allowed for standard dividends it would be useless to me as Dividends have sub classifications where I am. Yes moneydance could use some more transaction types, but setting up initial holdings doesn't require that much extra work and it is a once off task

  9. System closed this discussion on 24 Mar, 2019 12:30 AM.

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