Cost Basis Lot Matching - setting for LIFO, FIFO and custom matching

rjgiskard's Avatar

rjgiskard

10 May, 2020 09:01 AM

Hi there,

I've been learning about 'cost basis' for investments recently and finally understand the avg cost / lot matching selection that's set when associating a security to an investment account. I decided to move my managed investment account of a dozen or so securities to lot matching for more precise cost basis calculations.

In doing so, I had to manually match a lot of historic sells to their buys, which was a bit tedious given I've had this account for a few years now. I appreciate it won't be so tedious going forward, but the manual matching still leaves uncomfortable risk of doing it wrong and I wonder if there might be scope to add in an additional 'lifo / fifo / custom matching' selection should 'lot matching' be chosen for a security.

So if you set a security to 'lot matching', you then need to choose one of those three settings for how lots should be matched. The custom option would be the same as it is now - you manually match up shares from buys that should be used for the sell. But if you use LIFO or FIFO, Moneydance will do the matching for you based on that selection.

I think this would be a great QOL improvement for those of us that want to use FIFO or LIFO full-stop and reduce risk of incorrect matches where it can be done automatically, whilst still leaving the ability to do this as you want should you need that flexibility.

  1. System closed this discussion on 09 Aug, 2020 09:10 AM.

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