Downloading securities default action
Hello,
I've searched to forum and couldn't find an answer to my question. Here goes:
When I dowload my securities, MD defaults to the "buy" / "sell" action and I have to manually change them all to "buyXfr" / "sellXfr" This if very painful! I tried using a batch change and the Find and Replace add-in - none of these work for the action field. The shares are purchased from withholdings from my paycheck, so it is truly a buy/sell from another account, just not one reflected in MD. Is there a way to change the default behavior of MD so all of these downloaded transactions are "buyXfr" / "sellXfr"
Joe
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1 Posted by -Kevin N. on Oct 02, 2013 @ 10:30 PM
Hi Joe,
Your issue begs the question, why not reflect your paycheck in Moneydance?
Are the withholdings to fund a 401(k) or some similar retirement plan?
If the downloaded data is stating that the txn is a Buy, then I suspect that that is the case. Moneydance is not defaulting to a Buy, it is reading the data in the downloaded file.
I don't know of any means to automatically change the Action of downloaded data to something other than what the data is stating the Action actually is.
Correct me if I'm wrong, the withholdings are actually transferred to an Investment firm and deposited into your Investment account's cash management fund. Shares are then purchased drawing on the funds within the cash management fund. Hence, the txns are actually Buys and not BuyXfrs.
Is that mostly accurate or am I vastly mistaken?
If you provide a little more detail on what the actual process is that occurs with regards to the withholdings, then hopefully it can be handled in the least painful manner.
-Kevin N.
2 Posted by Joe on Oct 02, 2013 @ 11:10 PM
Kevin,
Your description of the process sounds correct. My paycheck is reflected in MD. However, because the shares are purchased with funds withheld from the paycheck, I don't know how much they are. When I manually change the "buy" to "buyXfr," everything in the security funds look correct. And, before you ask, the funds withheld are dynamically allocated to buy different shares; there's no easy way to track that with the exception of downloading my actual transactions.
How else can I manage this without having to manually make the changes? It's a shame MD doesn't allow batch changes to the action field.
Thanks!
Joe Smith"The measure of Love is what one is willing to give up for it." -- Anon.
3 Posted by -Kevin N. on Oct 03, 2013 @ 12:20 AM
Hi Joe,
Are you entering your paycheck as a split txn with the deductions and withholding entered as separate line items?
http://help.infinitekind.com/kb/getting-started/how-do-i-enter-my-p...
Doing so will allow you to enter a transfer txn as one of the line items. This entry will represent the withholding, with the funds going to the Investment account. The funds will be reflected in the investment account's Cash Balance.
When Buy txns are downloaded they will draw down the Cash Balance.
This method represents more accurately a 'real world' representation of what is actually occurring.
HTH -Kevin N.
4 Posted by Joe on Oct 03, 2013 @ 10:19 AM
Kevin,
Like I said, there's no way for me to tell where my funds are allocated paycheck-to-paycheck. So, no I'm not entering it as a split. I'd just like to be able to do a bulk change from buy to buyXfr, that seems to be the easiest route.
Joe Smith"The measure of Love is what one is willing to give up for it." -- Anon.
5 Posted by -Kevin N. on Oct 03, 2013 @ 02:41 PM
Hi Joe,
Should I take that to mean that you do not receive a pay stub indicating your deductions or the investment withholding amount?
I wondering about your current solution. Using BuyXfr requires some sort of transfer account to fund the purchases. The transfer account must be accruing a negative balance in the process. This is likely adversely impacting your overall Net Worth reported in Moneydance.
Changing the 'Action' of a txn, changes the fields that become 'live' in the txn. For example, changing Buy to BuyXfr makes the Transfer field live. There is no way for Moneydance to anticipate what the intended transfer account is that should be selected from the Transfer field drop-down list. Batch changing the 'Action' of multiple txns is fraught with potential adverse effects that I can't imagine the developers ever implementing such an option.
You will need to devise some method to account for the funding of your investments from your paycheck.
Perhaps Moneydance Support or another user can chime in with an idea on that issue.
Or.
Continue with your current workaround.
-Kevin N.
System closed this discussion on Mar 31, 2015 @ 04:03 PM.