Preferred Stock - Type of investment

[Flijfi]

Hi!

I'm trying to figure out what type of investment is more adequate to register Preferred Stocks (Citigroup Capital XIII, face value $25 Symbol C-PN, quarterly fixed interest payment).

It behaves like a Bond, I would like to register it in this way, but since its face value is not $100, the Income Schedule report is inaccurate (reported income is 4x real income).

I am aware that the help points that bonds shares should be 1/100th of face value, but doing it in that way doesn't allow automatic price retrieve (by Stock symbol) and even manually makes it confuse.

There is any workaround or advise?

Thanks,

Flijfi
PS: FM 11.2

[Mark]

Hi Flijfi,

Unfortunately, there is no perfect solution for this, as FM does assume Face Value is 100X the share quantity. A couple ideas you can consider:

1) Record the shares at 1/4th the actual amount, so that you can have a price near 100. You would record the price 4x the amount near the actual 25 price, so that you can use the Income Schedule report. You can set the internet retrieve properties on this investment to multiple the retrieved price by 4. See "Investment Properties... / Internet Retrieve".

2) Just record it like a regular investment with the actual price, and do not use the Income Schedule report.

[Flijfi]

Mark,

Thanks for your quick reply, as usual.

I will opt for your first suggestion, due to the automatic price retrieval, I didn't realize I could multiply the retrieved price of the stock.

It will be confusing having the price and # shares different of the statement but it is the better way to go.

I hope you manage to rewrite this piece of the code to release the dependency of having a price near 100.

Thanks!

Flijfi

[Mark]

Hi Flijfi,

Thanks for the feedback. This would be a good improvement.