Cash Accounts

[clay c]

When transactions are downloaded, the cash amounts are not getting entered into the cash account. This happens when downloading from both Schwab and Fidelity, but the transactions, i.e. purchase/sale or dividend are getting entered correctly into the data register for the security, but not in the cash account. The cash account is defined as a cash account, and is identified as the default cash account for the portfolio. If I enter the transaction into the data register for the security manually, it does enter a corresponding transaction into the cash account.

Also, I have a couple of cash accounts that downloads prices other than 1.0. I turned off the retrieve prices for these accounts, but this requires me to manually create a new price record. Is there a way for the program to automatically create a new price record at 1.0/share when I retrieve prices for the portfolio?

[Mark]

Hi clay c,

When you retrieve transactions, on the 2nd page where you preview the downloaded transactions, there is an option at the bottom of that dialog called "Automatically Record Corresponding Entry In Default Cash Account". It sounds like you may have this option un-checked. Try making sure it is checked on your next retrieve.

There is no option to automatically record a closing price of 1 for your cash account. In general, this is not necessary, as the price is staying fixed at 1, so there is really no need to update the daily price of a cash account. Is there some other reason you're wanting the price updated daily?

[clay c]

The problem still seems to be there, but since I have already downloaded the transactions into the data registers for the securities, no new transactions are shown on the second page, although I see that the box is checked (in all accounts) to "Automatically Record Corresponding Entry in Default Cash Account." I will have to wait for some new activity in accounts to check this again.

As for the prices in the cash account, I don't need daily prices, I just want to make sure that the cash amounts are correct for beginning and ending report dates, so I thought I needed to create a price record to show the cash balance for a particular day.

[Mark]

Hi clay c,

Checking that option to "Automatically Record Corresponding Entries in Default Cash Account" only affects any currently importing transactions. It doesn't go back and retroactively adjust already imported transactions. As long as you have this option checked, and you have a default cash account assigned to your sub-portfolio, then the monies should automatically go into/out of the default cash account.

It is not necessary to have a closing price recorded in order to report your cash balance. Since the price is always 1, the only thing that affects the cash balance is the number of shares you own. The value is price * shares, and FM will use 1 for the price, whether or not you have a closing price recorded on that exact date.