QUARTERLY FEES

[alpappy]

How is the best way to record quarterly management fees or any cash transaction for that matter
thanks
alan

[Mark]

Hi Alan,

To record management fees, record an "Account Fee" in the default cash account. Assuming the money was taken out of this cash account, record it as "Reinvested", and the "Value" and "Shares" should both be negative (and equal). The price if 1.

For other cash transactions, it depends on what transaction you need to record. All transactions should be recorded at a price of 1, with the shares equal to the value. If you deposit cash, this is a Buy transaction. If you withdraw cash, it is a Sell transaction. When you buy or sell some other security, FM will automatically record a sell/buy correspondingly, if you have a default cash account assigned. When you receive interest for your cash, this is an "Interest" distribution, and you would record this as reinvested, so you increase your number of cash shares.

[alpappy]

Thanks that works fine I have made a user defined category for NZ withholding tax Can I set this to default as deduction ie negative or do I always have to enter the amounts as negative ie -345.00 dollars..i see the fees one defaults to negative
alan

[Mark]

Hi Alan,

You would need to enter it as negative yourself.