Re: Canadian Investor

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In Reply to: Canadian Investor posted by Dave K on February 20, 2005 at 20:48:51:

: Hi,

: I'm an investor based in Canada and I want to know if FundManager will retrieve transactions from E-Trade Canada (on your website is lists E-Trade, but I thought I'd confirm it would work with E-Trade Can.)?

: Also, from what I can gather from reading some of the other posts, FundManager will do a pretty good job of keeping track of capital gains/losses for Canadian investors who invest in the US market. Our tax authority wants us (Canadian investors) to keep track of our cost basis and sale price in Canadian dollar terms at the date of the transaction(s). For example, if I bought MSFT in 2002 at US$30.00 at USD/CAN $1.50 or $45.00 per share Canadian and then sold MSFT 2 years later at US$30.00 at USD/CAN $1.20 or $36.00 per share, it would be a loss of $9.00 per share for Canadian reporting purposes. Will FundManager be able to track this for me? Do I need to enter in the currency rates each trade? Will it re-calculate the cost basis if I incrementally add to my MSFT position over time (ie., 200 shares, then 500 shares, then 300 shares, etc. until I own 2,000)?

: Thanks,

: Dave.

Hi Dave,

I'm not certain about E-Trade Canada. If it will work with Microsoft Money,
then it will work with Fund Manager. I'd suggest looking on their site to
see if they support retrieving transactions into Money. If they do, then
it will also work for Fund Manager. Also, it is easy enough to just try it
out to check.

On the cost basis, yes, this will work fine. In Fund Manager you record
transactions in the native currency, so for your example, you would record
that you purchased at $45/share, and sold at $36/share. All prices/transactions
for an investment are recorded in their native currency. When reporting
total portfolio figures you can use an exchange rate to get everything reporting
in a common currency. See "Options / Currency Settings...". You can track
investments in up to 8 different currencies.

Thanks,
Mark
--
Mark Beiley
Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP/2003

Replies:

• Re: Canadian Investor Daniel 20:39:07 02/28/05 (2)
  • Re: Canadian Investor Mark 20:58:55 02/28/05 (1)
    • Re: Canadian Investor Daniel 21:29:14 02/28/05 (0)