Re: starting positions & security transfers

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Posted by Mark on September 04, 2007 at 15:28:03:

In Reply to: starting positions & security transfers posted by Cathy P on September 03, 2007 at 11:58:23:

Hi Cathy,

: Hello, I am setting up a new portfolio for Morgan Stanley brokerage account I opened at the beginning of this year. I tried to set it up in FM with "New Portfolio Wizard" but it didn't give me an option to create a default cash account - the only option was to pick one from a list and since it's a new account it says "none".

When you use the New Portfolio Wizard, you must also create one investment for your cash account when you're entering all of the positions. Then, you'll have that cash account to choose from for a default cash account. Did you manually enter the positions, or retrieve them from Morgan Stanley? It sounds like you retrieved them, but it didn't retrieve a cash account. You can just add it after retrieving.

: So I used "New-SubPortfolio" which allowed me to create the cash account, and when I retrieved my transactions, it only went back to FEb 15, not the first of the year. So I tried to enter those transactions manually - which include the initial transfer of stock into the account, but I couldn't see a way to do that without affecting the Cash account. How do I enter an initial position or transfer in of stock?

You could either record them as purchases at a cost of $0, or you can temporarily turn off the default cash account assignment if you don't want the money transferred out of your cash account. Just go to "Portfolio Properties..." to temporarily set the default cash account to 'none'.

: Also, I would like to be able to transfer a stock position out of this account and into another brokerage account (a different sub-portfolio) while preserving the stock's history in the original account. How do I perform and transfer out and then into another portfolio?

You can record a sell transaction in the original account, and a purchase on the date of the transfer into a new investment in the destination sub-portfolio. It would probably be better though to just move the investment to the new sub-portfolio so you don't have to record a sell/buy, which will generate capital gain entries.

Thanks,
Mark
--
Fund Manager - Portfolio Management Software

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