Creating investment accounts
I only have checking and savings accounts appearing on the left hand side. How do I start an investment account and then have automatic stock price updates over the web. Some info indicated that I would need a free addon for the latter.
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1 Posted by David Mowbray on 05 Apr, 2016 07:01 PM
I only have checking and savings accounts appearing on the left hand side. How do I start an investment account and then have automatic stock price updates over the web. Some info indicated that I would need a free addon for the latter.
2 Posted by -Kevin N. on 05 Apr, 2016 07:08 PM
Hi David,
From the Moneydance menu bar, go to Account > New Account...
Select Investment from the resulting Form. Click Next.
Fill in the particulars of the next form. Click OK.
The new Investment account will appear in the left side bar.
Look to Chapter 7 of the User Guide for information on setting up investments.
http://help.infinitekind.com/kb/user-guides/moneydance-2015-user-guide
HTH -Kevin N.
3 Posted by David Mowbray on 05 Apr, 2016 07:14 PM
Kevin,
Many thanks. I was being too cautious.
Regards
David
David Mowbray
2, Wymering Court
Farnborough GU14 7DH
01252 513 426
[email blocked]
4 Posted by -Kevin N. on 05 Apr, 2016 07:29 PM
Hi David,
The Quotes & Exchange Rates Updater is the extension that will download price quotes for your investments. That is, provided that, Yahoo Finance provides ticker symbols for them. Unfortunately, UK Funds have notoriously been omitted from Yahoo.
-Kevin N.
5 Posted by David Mowbray on 05 Apr, 2016 07:36 PM
Hi Kevin,
I have downloaded the Quotes uploader. Will set up the investment accounts in the next day or so and look forward to it performing.. I will be looking for stock prices mainly, not so interested in funds.
Regards
David
David Mowbray
2, Wymering Court
Farnborough GU14 7DH
01252 513 426
[email blocked]
6 Posted by -Kevin N. on 05 Apr, 2016 07:56 PM
Hi David,
You should be good-to-go then. :)
The one piece of advise that I can offer is that if you have more than one investment account and you hold the same security in each account, do not create separate instances of that security. Create the one instance and then you can simply 'Add' that security to the second investment account.
Ideally, creating a second instance of a security would not be allowed in the program but as far as I know it can be done.
Feel free to post back if you run into any roadblocks.
HTH -Kevin N.
7 Posted by David Mowbray on 06 Apr, 2016 09:26 AM
Kevin,
Many thanks for the tip re holding the same stock in two or more accounts - this is something that does occur with the accounts I intend to create.
Regards
David
David Mowbray
2, Wymering Court
Farnborough GU14 7DH
01252 513 426
[email blocked]
8 Posted by David Mowbray on 06 Apr, 2016 10:07 AM
Hi,
I am trying to add a number of securities into an investment account. I have created the account OK. I have entered the name of the stock but can not find how to enter the number of shares. Later I will no doubt need to sell shares also.
Regards
David
David Mowbray
2, Wymering Court
Farnborough GU14 7DH
01252 513 426
[email blocked]
9 Posted by -Kevin N. on 06 Apr, 2016 02:10 PM
Hi David,
Each Investment account has two registers; a Bank type register (for those investment accounts that allow check writing and such) and an investment register (for the handling of securities transactions)
Look to the tabs in the bar along the top of the investment account window, click on 'Register'
Once in the 'Register' view, click the 'New Transaction' button in the upper right-hand corner of the register.
A new transaction will open at the bottom of the register in edit mode.
Alternately, use key-combo CTRL-N to open a new transaction in edit mode.
Initially, you'll need to enter a 'Buy' txn so as to establish your current holdings.
Or...
You may import past history from another PFM program or from your broker if they provide such a service.
The funds provided to make the 'Buy' txn can be provided by entering an 'Initial Balance' in the account's parameters window (Menu bar > Account > Edit Account) Enter an amount equal to the amount of the purchase cost.
Or...
You can transfer funds from another account.
There's quite a bit of information there; I hope I made it all clear. Post back if you're unsure about any of it. OK?
HTH -Kevin N.
10 Posted by David Mowbray on 06 Apr, 2016 11:59 PM
Hi Kevin,
As always, many thanks for your help
Regards
David
David Mowbray
2, Wymering Court
Farnborough GU14 7DH
01252 513 426
[email blocked]
11 Posted by Keith A. Lindse... on 10 Apr, 2016 10:29 PM
Question:
I have just downloaded and installed MoneyDance 2015.7 on Kubuntu 14.04 64-bit.
I have setup an investment account for my wife's Roth 401K. When I setup the initial balance, I'm able to put in the number of shares in and the share price, but it always shows the resulting balance as negative. Why is that or am I doing something wrong? I mark the transaction as "Buy", because it's the initial buy of shares. Anyone got any ideas?
Also, I transfer money into the account from her paycheck (as part of a split transaction), however, I can't after-the-fact go to the investment register and edit it to show how many shares were purchased with that particular transaction. Any reasons why?
Thanks for reading this in advance!
Best Regards,
Keith
12 Posted by Tom Freeman on 11 Apr, 2016 12:43 AM
I am assuming that the first 4 buy transactions are setting the initial balance. If so, then goto account > edit account. In the edit account window there is a filed for initial balance, you want to put in 2121.46. This should correct the cash balance.
Tom Freeman
Infinite Kind Support
13 Posted by Keith A. Lindse... on 11 Apr, 2016 03:00 AM
Tom,
Thanks for your response. I appreciate it!
Actually, I set the initial balance to zero. The first four buy transactions are what actually occurred in obtaining that balance. I just don't understand why it's setting the Cash Balance field negative. It should be positive, shouldn't it? 118.328 * $16.94 = $2004.48, not -$2004.48. I've also tried putting zero in the fee field and that does not make a difference. Maybe I'm not using this correctly? It just doesn't make a whole lot of sense to me.
The other transactions are coming from my wife's pay check as part of a split transaction. However, I'd like to be able to edit those to show how many shares were bought and at what price. Right now, I can't edit those at all; I assume it's because they are part of a split transaction.
Maybe I'm not thinking about this correctly; do I need to create a separate Roth 401K account and then manually put in transactions, including share prices and number of shares and have the split transactions from her pay check go into another account? It just seems like it would be easier if we could edit those split transactions to an investment account to provide details that are not available during the split.
Please let me know. Also, I love MoneyDance! I migrated to it from Quicken Home & Business 2011 last year and other than these two issues, it meets my needs perfectly! It also runs on Linux which thrills me to no end! (No more DimWoes!!)
14 Posted by -Kevin N. on 11 Apr, 2016 02:25 PM
Hi Keith,
So as to try and clear up why there is a negative balance after your initial buy txn; the -2004.48 represents the 'Cash Balance' of the account, not the 'Cash Value' of the underlying securities.
As you've stated, you started with a $0.00 Cash Balance and then subsequently spent 2004.48 to purchase shares thus attaining a -2004.48 Cash Balance.
To view the 'Cash Value' of the underlying securities, look to the 'Portfolio View' by clicking the appropriate tab along the top of the Investment account window.
The transfers from your wife's checking account into the Investment account can be thought of as deposits. You're assumption is correct. Those txns can not be edited to include the purchased shares because they are already part of a split txn.
You should create a new Buy txn using the transferred amount to cover the cost of the required shares.
HTH -Kevin N.
15 Posted by David Mowbray on 11 Apr, 2016 02:44 PM
Hi Kevin,
I am not sure what is happening. I am receiving 3 or 4 unsolicited emails each day from either your good self and/or other users of Moneydance with the sort of queries I raised with you last week. emails are addressed to me and usually attached to a string of other emails in a conversation.
Interesting as they invariably are, I would prefer not to have them. I am swamped with email work as it is and I believe I am getting to grips with Moneydance. I am finding the online user’s manual helpful also.
Regards
David
David Mowbray
2, Wymering Court
Farnborough GU14 7DH
01252 513 426
[email blocked]
16 Posted by -Kevin N. on 11 Apr, 2016 03:01 PM
Hi David,
Another MD user, Keith, had posted to your original query on the support forum. These are public forums so unfortunately, such a thing is possible.
What you need to do so as to no longer receive emails from this thread is to return to the forum and click the 'Unsubscribe from Updates' button in the upper right-hand corner of the forum page. Here is a link to your original post: Just click the 'Unsubsribe...' button.
http://help.infinitekind.com/discussions/investments/889-creating-i...
-Kevin N.
17 Posted by Keith A. Lindse... on 11 Apr, 2016 10:29 PM
Kevin,
Thanks so much for your explanation! I now understand how it's supposed to be used and have completed updating that retirement account.
Thanks again for your help!
Best Regards,
Keith
18 Posted by -Kevin N. on 11 Apr, 2016 10:59 PM
Hi Keith,
You're welcome. I'm glad to have been of help.
-Kevin N.
System closed this discussion on 30 Jul, 2016 03:51 AM.