need accounting info on how to post investments

pypeke's Avatar


03 Jan, 2016 06:23 PM

Hi all,
I need some help on the accounting side of posting entries. I now have control of my father's bank accounts due to his dementia. I am setting up everything on Moneydance so I can keep everything straight. He has money invested with a Raymond James financial advisor. We sold some stock that has been losing money and I don't know how to enter that in MD. I know there are capital gains and losses, but I don't know where to begin or even what to ask here. All I know is I need to post the deposit as income, but it has to have an offset. I know he put money in to purchase the stock years ago. I am not sure what to ask the advisor. I am not sure if he got dividends or if money was reinvested. I know the total amount is not really income but I don't understand the accounting or financial side.

The advisor has been making all decisions for my father...buying and selling as the advisors chooses. Not sure if that should continue or not. I just don't understand enough yet about investments. I also assume I need to enter any expenses the advisor charges in MD too.

We also sold an annuity he had. I know how much he originally put in and how much it sold for. That will need to be entered into MD as well. Where do i begin? Thanks

  1. 1 Posted by Tom Freeman on 03 Jan, 2016 08:14 PM

    Tom Freeman's Avatar

    I am assuming that you have yet to set up the investment account. My suggestion is to download the User Guide and read the chapter on investments You can scroll down our knowledge base and get to the FAQ's on investments.

    If after beginning the set up of the investment accounts based on the user guide instructions you have specific questions, please let us know and we will do our best to advise.

    Tom Freeman
    Infinite Kind Support

  2. 2 Posted by pypeke on 03 Jan, 2016 10:48 PM

    pypeke's Avatar

    Correct. Nothing has been set up yet. Like I said this is more of an accounting or understanding investments problem so the MD help guide will not help with what I need to begin.

    I think I will just ignore the setup of investment accounts. It would be too difficult to enter all the historical transactions. I guess I will just post the sale of stocks and the annuity as income and leave it alone.

  3. 3 Posted by Tom Freeman on 06 Jan, 2016 12:58 AM

    Tom Freeman's Avatar

    The instructions in the user's guide can help you set up your initial balances/holdings of your investment account. Since its the beginning of the year you can use the year end statement to enter your holdings at the cost basis.

    The basic steps would be to
    1 set up investment account. Account > new account
    2 Add the securities you own to the investment account. The best method is to go into the account investment register use the action button on the top right and the "add security" function. Do this for each security you own.
    3 Do a buy transaction for each security you own for the total shares you own and the total cost basis as the transaction total.
    3 Add an initial balance to the account to zero out the buy sales u just made. Account > edit account. There is an initial balance field. Put the negative cash balance fro the transaction register plus whatever money market/cash balance the account has.

    After this you should be able to use the portfolio view to confirm that your holdings match your statement. You can either download the security price extension for manual price updates or the Quotes an exchange extension for online price updates updates. to do this go to extension > manage extensions.

    Depending on whether your broker support online downloads, you may be able to download your transactions. Set this up by going to Online > set up online banking. Your broker may also allow ofx/qif downloads of you account history from the brokers website. This can be imported into your MD investment account.

    At the very least once you get you investment account set up you can manually update the account from your periodic statements.

    Tom Freeman
    Infinite Kind Support

  4. System closed this discussion on 06 Apr, 2016 01:00 AM.

Comments are currently closed for this discussion. You can start a new one.

Keyboard shortcuts


? Show this help
ESC Blurs the current field

Comment Form

r Focus the comment reply box
^ + ↩ Submit the comment

You can use Command ⌘ instead of Control ^ on Mac