Settlement date updates?

[dana]

Hi board/Mark,

Love the program and enjoying the trial. Just spent an arduous few days importing a multi-currency portfolio into FM and got a lot of things working... everything except settlement date.

I use settlement date regularly in moving money between accounts for different classes of investment.

a) Are there any updates to support for settlement date? E.g. a trade recorded with trade date, and settlement date, so cash in the account has a current and a 'pending settlement' amount.My suggestion for the functionality: When entering a buy/sell trade for a security, have a 'settlement date' field, which alongside recording this number in the database, also sets the cashflow in the default cash account to occur on that date.

b) Is there any workaround? I didn't really understand the SYNCASH example cited elsewhere on this board. I understand that a report is always based on every transaction recorded, irrespective of the dates cited (e.g. I have some trades where I tried to cleverly put teh date as 11 oct, but a report dated to 10 oct still shows it).

Best wishes

Dana

[Mark]

Hi Dana,

Thanks for trying out Fund Manager.

a) This would be a nice feature to add, but it isn't in the real near term plans. It is quite major, and would add a fair amount of complexity.

b) A workaround is to put the money into a temporary cash investment for the time between trade and settlement date. For example, if you buy a stock on day 0, record a buy of stock, and a sell of TEMPCASH (aka SYNCASH). On day 3 when it settles, record a buy of TEMPCASH and a sell of your regular cash account.

Reports should only include data for the date range of the report... Do you have an example of a case where this didn't happen?

[dana]

Oh OK, so that's fairly straightforward. I just have to remember when the settlement happens and do it then.

I was hoping to have 'pending settlement' as a separate line, maybe I can do that as a separate report or something...

[Mark]

Hi Dana,

You could look at the open lots in your TEMPCASH investment at any point in time, and based on the memos you could know which lots were still pending settlement. Once everything settles, your TEMPCASH balance should be 0, and there should be no open lots in that investment. You can use the "Open Lots" report, and run it only for that TEMPCASH investment.