|
|
Re: default cash account and OFX before/after subportfolio setup[ Message Board ] [ Archives ] [ Search ] Posted by Mark on August 06, 2006 at 17:45:10: In Reply to: default cash account and OFX before/after subportfolio setup posted by Steve on August 06, 2006 at 17:10:36: : Thank you for your prompt responses to these questions. : After setting up subportfolios for my client accounts, the balances are grossly inaccurate. Although this may be merely due to the quality of OFX data, maybe the manner in which default cash accounts are initially placed contributes to at least some of the inaccuracies. : The tutorial notes that default cash accounts may be handled differently if arranged before or after a portfolio or subportfolio is created, but no description is provided concerning what this varied handling might do to one's records. : If using OFX, are subportfolios more accurately handled if a default cash account is created initally? : On a related note, if a subportfolio is created through OFX, is it possible to create a default cash account prior to starting an OFX retrieval, meshing the OFX money market data with the default cash account following the retrieval? : I notice that several other users experience inaccuries with the implementation of OFX concerning cash accounts, and any recommendations regarding the best way to reduce or eliminate these inaccuricies would be appreciated.
One of the more common problems with setting up new sub-portfolios with OFX retrievals is that the broker only provides data back for a relatively short time. This time varies by broker. Some of them have it back for many years, while others only keep it on the OFX server for 60 or 90 days back. If you only have the last 90 days worth of transactions, your ending balance will only reflect transactions from this time period. You could either update transactions prior to this using some other method (manual or import), or you could just record a purchase for the number of shares owned 90 days ago. It is preferable to record transactions back all the way to inception in order to provide accurate historical returns and also for capital gains calculations (long versus short). To take a look at all the recorded transactions use the Data Register (Edit / All Data...) with the "Investments (all)" data type selected. Regarding the default cash account... If your sub-portfolio has a default cash account assigned to it when you do the retrieve you can have all the retrieved transactions automatically credit/debit this cash account when you import them. After the retrieve you will see the "Preview Transactions" dialog, and there is an option towards the bottom to control whether or not you want all the transactions to apply to any assigned default cash account or not. In order to utilize this feature you must have a default cash account assigned before you do the transaction retrieve. Assigning the default cash account after retrieving transactions will not cause any of the previously retrieved transactions to debit/credit the cash account. The OFX "retrieve" doesn't automatically create new sub-portfolios. Are you asking about when you "import" an OFX file? If so, when you import an OFX file, and a new sub-portfolio needs to be created, you are prompted on how you want to deal with the default cash account. You will see the options: 1) Don't use one If you choose one of the options that assigns a default cash account, this will happen before the transactions are imported, so any imported transactions can apply against this cash account. Thanks,
|
| FundManagerSoftware.com | Search | Site Map | About Us | Privacy Policy |
| Copyright ©1993-2025 Beiley Software, Inc. All rights reserved. |