categorizing divreinvest, sellxfr, buyxfr
It does not seem possible to assign income or expense categories to DivReinvest, SellXfr, and BuyXfr transactions in an investment register. Why not? Or if it is possible, how? It seems like a normal thing to record dividends as a type of income.
If you are wondering why I want to assign categories to sellxfr & buyxfr, I have a HUMBL wallet which allows me to purchase and directly send to others (and receive) various cryptocurrencies. I don't mess with Bitcoin but I do use USD Coin. Example: I owe a friend $20 for my share of a lunch bill; so I send him $20 worth of USD Coin, which is very close to but not exactly 20 USDC.
Thanks in advance.
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1 Posted by Stuart Beesley ... on 07 Aug, 2022 04:26 PM
SellXfr / BuyXfr correct(ish). The sell / buy generates / uses cash (rather than income/expense). The Xfr bit can be to / from an account OR a category.
DivReinvest. Are you sure? There should be an income category field?
2 Posted by tom.mcdougal.84 on 07 Aug, 2022 09:23 PM
Thanks Stuart, you are right, I am able to enter a category into the category field for DivReinvest. For BuyXfr & SellXfr it pretends as though I can do so but doesn't retain whatever I put in.
From reading another article it looks like I should be using an Asset instead of an Investment for this.
3 Posted by dwg on 07 Aug, 2022 10:55 PM
Transactions like BuyXfr, SelXfr are a two in one transaction they combine a buy or a sell with transferring money to or from an account/category.
A buy or sell transactions in itself does not have category, it involves cash in the account and there should be nothing to categorise as it is not an income or an expense item. It is changing one type of asset to another, cash is an asset as is the investment. Increase one asset decrease another.
An Xfr transaction is simpler as it is generally just moving funds between accounts, so again increase the funds in one account decrease in another.
tom.mcdougal.84 closed this discussion on 08 Aug, 2022 12:45 AM.