Trade Date vs Settlement Date

[ThomasK]

Hi Mark,

I searched the forum/help files and thought best to start as a new topic the idea of recording BOTH the Trade Date and Settlement Date. Apologies if I overlooked the answer.

Is there functionality to record the Trade Date and have FM automatically (noting market holidays in various countries) to compute the Settlement Date (so as not to have us do a double entry of the date).

FM would know if the investment is a bond, money market, stock and we should be able to change the default parameters of course.

I run my trading like a cash business and when it comes to reconciling statements it's not that big a deal to date-shift over a few days to compensate. However, it would be a nice feature.

Thoughts or is this a programming nightmare to have both dates?? Perhaps only 1 "real" date that WE enter and FM just can compute forwards or backwards, depending if WE use Trade or Settlement?

Just a few thoughts as I plow through some accounting. And my corp year end is not the calendar year end so that's also interesting. However, I simply do my adjusting entries between the years. I found a few logic errors that I did where if FM could have handled the computation of the Settlement dates off the Trade date.

Perhaps I'm not thinking it through for bond holders but if FM would have the default settlement "T + n" for the various assets that would be a huge help for reconciling brokerage and for taxes.

Thanks, thoughts??

[Mark]

Hi ThomasK,

Fund Manager only uses a single date. You can pick what you want to record, but I think most commonly people use actual trade date. That is typically the date provided when retrieving transactions from your broker.