Splitting one check to buy three investments

qaman333's Avatar

qaman333

12 Nov, 2015 11:19 PM

Hello!!
I have used one check from a checking account to purchase three mutual funds of the same family. MD2015 automatically flags those purchases as Xfr.
1. Shouldn't they be flagged as BuyXfr?
2. Neither the portfolio view of those funds nor their register), show the amount of shares purchased. How can I correct this? Otherwise, how will MD2015 know the value of the account as their NAV changes?

Thanks,
anicopa

  1. 1 Posted by dwg on 12 Nov, 2015 11:41 PM

    dwg's Avatar

    I suspect you may have only gone part of the way to setting this up. This is the sort of steps I would take.

    1. Set up an Investment account, usually this will be something equivalent to the investment house you purchased the funds through.

    2. set up a security for each fund you have invested in and then add these to the Investment account.

    3. Given you used one cheque to buy all three funds, I would show this as a transfer between the cheque account and the investment account

    4. I would then enter buy transactions in the investment account for each of the funds, the share price being the unit price of the fund, they would have told you the number of units purchased and also any fees.

    That should all give you one investment account with three securities in it and showing the amount invested and the total number of units in each fund.

    Des

  2. Support Staff 2 Posted by Tom Freeman on 19 Nov, 2015 09:44 PM

    Tom Freeman's Avatar

    @qaman I am going to respond to this thread and remove your other two to clear up the forums. i will post your other responses in the other two threads first so they will not be lost. It helps if you clink on the link and respond in the thread rather than replying to the email/.

    dwg,
    Thanks for your fast response.
    Those 4 steps you are suggesting are exactly what I did, yet something is not right. The only difference is that I created three different accounts each with one security.

    dwg,
    Do you have any additional ideas on how to correct this problem?

    You can edit the original bank transaction by double clicking on the transaction. I am assuming that you did a split transferring into 3 investment accounts. go back and delete the splits having all the funds go to the first investment account.

    In the first investment account use the action button to add the other two funds to the account. now do a buy for those two funds.

    Delete the other two accounts.

    If I have misunderstood how you made the original transaction, please send a screenshot of the transaction and I can better advise how to resole the issue.

    Tom Freeman
    Infinite Kind Support

  3. System closed this discussion on 19 Mar, 2016 05:02 AM.

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