Can we edit the Data Type "User-defined 1 and 2"?

[ThomasK]

Hi Mark,

I am curious as to how User-defined fields in Data Register: Data Type are used.

Perhaps this would be where I would create a special heading for the government's grant into my daughter's RESP?

How do I edit the field/rename it?

Thanks,
Thomas

[Mark]

Hi Thomas,

Yes, you can rename these. See "Options / Distribution Labels...". If you wanted, you could record a reinvestment of one of these types to account for the grant. This would look like the investment earned this added money, giving it a higher performance number.

[ThomasK]

So, if I wanted to see the incoming grant as increasing performance then I would do it either:

a. recording the grant money as a distribution and FM will show an immediate 20% gain (eg. $2,500 my money, then $500 free money is 20% gain)

or

b. I could also purchase $500 cash at $0 per share cost.

The second option now seems better as if I wanted to exclude the "artificial" gains in a calculation temporarily I could easily change the purchase cost to $1/share and FM would then consider the $500 my money and no gains, yes?

[Mark]

Hi ThomasK,

Correct. On option #1, you would need to make sure and record it as "Reinvested", so you are buying more shares with the distribution.