Problem with cash accounts linked to portfolios

[Exspextations]

I have investments in an online platform in which I originally only had a portfolio of EUR denominated investments linked to a EUR cash account. I now want to also buy investments in GBP as well as EUR and have created a GPB cash account in the portfolio to manage the GBP cash transactions relating to the purchase of the GBP investments as well as transfer of GPB into and out of the GBP part of the portfolio from the GBP cash account.

While transfers of cash between the EUR and GBP cash accounts are registered correctly, when I transfer GBP out of the portfolio using 'Sell' the transactions are not only recorded in the GBP cash account, but a EUR equivalent is recorded in the EUR cash account. The only way that I have found of preventing this from happening is to record cash out of the GBP cash account as a 'Transfer out' transaction. I have not yet recorded the purchase of any GBP investments, but I'm afraid that if I do this, the purchase of the GBP investments will also be recorded in the EUR cash account, which is not what I want to happen.

What I want to be able to do is:

1 Transfer cash into and out of the EUR cash account without it being recorded in the GPB cash account
2. Ditto for the GPB cash account by without transactions being recorded in the EUR cash account
3. Buy and sell EUR investments and for the transactions to be linked only to the EUR cash account
4. Buy and Sell GBP investments and for the transactions to be linked only to the GBP cash account
5. Transfers of EUR and GBP between the two cash accounts to be recorded correctly

I'm not sure if I am doing something wrong or if what I am trying to doing is simply not possible in Fund Manager with the portfolio set up the way it is and that it needs to be set-up differently.

Grateful for any advice on how best to achieve my objective in 1 to 5 above.

[Mark]

Hi Exspextations,

You'll want to think about how you have your default cash accounts set up. It sounds like now you have just one sub-portfolio, and EUR is your default cash, which is why when you sell GBP you got a corresponding entry in EUR, which it sounds like is your default cash account. Instead, set things up like this:

- My Account
- EUR holdings
- GBP holdings

The "My Account" won't have a default cash account, and the "EUR holdings" will have the EUR cash, and the "GPB holdings" will have the GBP cash as its default.

When you sell GBP cash, there won't be a corresponding cash entry, because it is the cash in that sub-portfolio. To transfer cash, you'll need to record both the sell/buy transactions in GBP/EUR cash investments.