"Closing" an Account

[paulk]

Hi Mark

So I have some accounts I want to remove from my master portfolio due to the client leaving. In the past if the client liquidated the positions and withdrew the proceeds to close the account I simply recorded sales, a withdrawal and then hid the portfolio with 0 share balances in each position. This way I would still have access to the history if the client needed it.

Will I accomplish the same thing if the client actually pulled the positions instead of liquidating them and I just recorded Transfers Out of all the shares? Will I be left with 0 share positions that I can hide but still have access to the history if I need it?

Thanks

[Mark]

Hi paulk,

Yes, you can accomplish the same thing using Transfer Out transactions. This has the same effect as sell transactions, in reducing your shares. The difference would be you wouldn't see gains/losses reported on the Capital Gains report.