Crazy Figure in Income Schedule Report

[Bsrr]

Hi Mark - I have a series of monthly dividend reinvestments from a money market for the period of 2024. The amounts are all correct except for some reason the one for 2/29/24 has an amount of $7,633,670.40 (wildly inaccurate of course). I have looked at the corresponding transaction for that item and it shows what should be the correct values. Any idea why this would be? I tried to think of the ways or items that might resolve this before posting this but I sure can't figure it out. Thanks.

[Mark]

Hi Bsrr,

Where are you seeing this figure? In the Income Schedule report? The Data Register? What do you mean by the "corresponding transaction"? Was this a reinvestment in the money market? If so there should be no corresponding transaction.

One common source of issues with incorrect shares for a default cash account entry is if the price of your cash is not always 1. You can check this in the Data Register under the "Prices" data type.

[Bsrr]

Hi Mark - let me try to clarify:

The odd forecasted "Amount" value is coming from the Income Schedule Report using the "Estimated from Last Year (Historically Expected)" Income From drop down. So I misspoke in regards to a "corresponding transaction" because there would be no such transaction since each months value in the Reports "Amount" Column is an estimate from the previous years data.

In retrospect, I was sort of playing around to learn more about FM but it seems that running this report with the selected drop down choice mentioned above and using "past" dates (2024 in this case) is meaningless as I would have "actual" figures for 2024 anyway. So the odd forecasted value in the "amount" column for February is meaningless.

Unless you have further advice for me I think we can close this out. Thanks.

[Mark]

Hi Bsrr,

Here is how this report calculates expected income in this case:

Historical expected income is calculated by looking at the per-share distributions from last year's transactions, and applying that to the number of shares owned this year. This is an approximation, and assumes the per share distributions will be the same or similar from last year to this year.

Yes, generally you use this report for future dates, as past dates can be calculated using actual data, like in a Distribution Summary report. To investigate why that figure is so high, look at the investment in question in the Data Register under the data type of "Distributions" and for the year prior to the report date range's settings, look at the "Dist/Shr" column, and you can see how much $/share was recorded. Multiply this times how much you own during the reporting time period, and you can see how FM comes to this value.

[Bsrr]

Thank you Mark. I understand now.

I found a total of 6 "crazy" values for "forecasted" Income for 3 brokerage accounts that use the same Money Market fund as the settlement account and in each case I looked at the Data Register for the month/year prior to the month/year with the "crazy" amount and sure enough when looking at the Data Type of Distributions there was a "crazy" value for the Dist/Shr column a year prior to.

Is there a way to edit the Dist/Shr value? I am not sure why the Dist/Shr value would be so different than the "normal" amount that shows for all the other months before and after.

The 6 "crazy" amounts seem to be fairly random and cover a few years in the past so I don't see a pattern per se. I am not sure if these values would somehow impact other calculations FM uses but perhaps it is not an issue and not worth the time "fixing" them. Thanks.

[Mark]

Hi Bsrr,

You can't directly edit the Dist/shr. That is calculated based on the distribution amount, date(s), and number of shares owned. It works slightly differently for "cash" investment types, where the shares owned is an average number of shares between the beginning/end of the period. For other investment types it uses the number of shares on either the "For Shares Owned On" date, or the date prior to the distribution date.