tag:infinitekind.tenderapp.com,2009-01-14:/discussions/investments/5553-mutual-and-brokerage-accounts-that-track-share-numberInfinite Kind: Discussion 2021-01-28T22:53:52Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/489000012020-12-12T19:41:38Z2020-12-12T19:41:38Zmutual and brokerage accounts that track share number<div><p>Moneydance is 100% local and offline. You can choose to Sync via Dropbox to another computer, but that is your choice.</p>
<p>Yes, you can store funds by number of shares/units (and therefore the value of course). You. can run reports, buy/sell funds by qty of fund/shares...</p></div>Stuart Beesley (Mr Toolbox)tag:infinitekind.tenderapp.com,2009-01-14:Comment/489000012020-12-12T19:46:17Z2020-12-12T19:46:17Zmutual and brokerage accounts that track share number<div><p>Steve,<br>
Many thanks. How does Moneydance handle statement reconcile of mutual fund accounts: in shares or in dollar-equivalent transactions? Sincerely,<br>
RK</p></div>Kessel, Roberttag:infinitekind.tenderapp.com,2009-01-14:Comment/489000012020-12-12T19:49:00Z2020-12-12T19:49:00Zmutual and brokerage accounts that track share number<div><p>I'm not sure I understand what you mean to be honest.... Surely, you buy or sell the funds and therefore enter these as transactions? There is no 'adjust the qty to reconcile function'.... The portfolio screen for that account in moneydance will show you the number of shares/units by fund/share and also the value. If you want to adjust the qty you would need to enter a buy/sell....? Others on here can comment about downloads from online accounts.</p>
<p>(just a fellow user)</p></div>Stuart Beesley (Mr Toolbox)tag:infinitekind.tenderapp.com,2009-01-14:Comment/489000012020-12-12T19:54:10Z2020-12-12T19:54:10Zmutual and brokerage accounts that track share number<div><p>I'm a fellow user.</p>
<p>In Moneydance you could certainly use a constant price of $1 per share, so that all purchase and sale tranactions result in the amount being the number of shares.</p>
<p>If you are talking about how Quicken can use Add and remove transactions to adjust the value of the Investment, Moneydance cannot do this. Moneydance follows accounting rules and this is just not a valid thing to do in accounting.</p>
<p>Moneydance Investment Accounts are designed to work on the price per share for value and with tranactions based on a price and number of shares bought or sold, with a little effort it is possible to adapt to this in most instances.</p>
<p>If you want to mimic what Quicken does you may be better off using an Asset account rather than an Investment account where you are just using Deposit and withdrawal entries and are thus maintain the value simply on the balance.</p>
<p>Moneydance can be completely used off line, for example the only online activity I do is to update share prices.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/489000012020-12-12T19:55:43Z2020-12-12T19:55:43Zmutual and brokerage accounts that track share number<div><p>Stuart,<br>
Sorry, I mis-read your name on the first post. I appreciate the help. I’ll try to re-ask the question. Feel free to say it doesn’t make sense and you have other things to do. So, trying again: Each month our bank and investment companies send us a statement. How do I get Moneydance reconciled against the statements? Is this even possible? Sincerely,<br>
RK</p>
<p>On Dec 12, 2020, at 2:49 PM, Stuart Beesley - JUST A FELLOW USER > wrote:</p></div>Kessel, Roberttag:infinitekind.tenderapp.com,2009-01-14:Comment/489000012020-12-12T19:56:52Z2020-12-12T19:56:52Zmutual and brokerage accounts that track share number<div><p>DWG,<br>
Thanks. Sincerely,<br>
RK</p></div>Kessel, Roberttag:infinitekind.tenderapp.com,2009-01-14:Comment/489000012020-12-12T19:59:57Z2020-12-12T19:59:57Zmutual and brokerage accounts that track share number<div><p>I don't think you are asking this, but yes you can reconcile bank accounts by value. To adjust, you enter more transactions.</p>
<p>As DWG says, you cannot just add/remove transactions in investment accounts to make the quantities match. You need to add buy/sell transactions, to match reality, to get the share/fund qty match your report....</p></div>Stuart Beesley (Mr Toolbox)tag:infinitekind.tenderapp.com,2009-01-14:Comment/489000012020-12-12T20:09:21Z2020-12-12T20:09:21Zmutual and brokerage accounts that track share number<div><p>The investment house statements that I have seen here are fairly simple affairs. If they show what could be very loosely described as transactions, it is often as simple as a date, a description, an amount and the balance after the transaction is applied.</p>
<p>You may have difficulty in duplicating this in an investment account, it can be done, but I doubt if it would offer much value, it would be easier in an Asset account, you can use Moneydance's reconcile function in all account types.</p>
<p>The best I can suggest is to set up some test accounts in a test data set and just enter some transactions to see what works best for you. By doing this you can see the pluses and minuses of different approaches. This is what I did when I migrated.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/489000012020-12-12T20:11:18Z2020-12-12T20:11:18Zmutual and brokerage accounts that track share number<div><p>FYI - When I didn't care about the asset value/qty values too much I used Asset accounts as DWG suggests. When I need to track by qty and track share price, then I converted to proper investment accounts. NOTE: as you would expect, investment accounts take more work to maintain....</p></div>Stuart Beesley (Mr Toolbox)