Re: default cash account and OFX before/after subportfolio setup

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Posted by Mark on August 08, 2006 at 10:57:31:

In Reply to: Re: default cash account and OFX before/after subportfolio setup posted by Steve on August 07, 2006 at 23:25:29:

Hi Steve,

See below for my answers:

: The on-line documentation contains numerous scattered references to the 'import function'. Is there a tutorial on its use hidden somewhere?

There are several different types of imports. You can import prices, transactions, positions, asset/goal allocations, etc... All of these are under the "File / Import" menu. There are no tutorials like the ones on our web site, but there is extensive documentation. Just select the import that you're interested in, and choose the "Help" button on the dialog that comes up. You will see specific documentation on that particular import command.

: Just out of curiousity, what if a client has a cash account which is not in a money market and thus does not have an OFX investment symbol? I presume Fund Manager will still tally OFX transactions against this non-invested default cash account, correct?

Correct. Any investments specified as the default cash account will be automatically debited/credited when other investments in that sub-portfolio have transactions creating or using cash.

BTW, when you retrieve or import an OFX file the "CUSIP" is the primary method of matching up transactions with existing investments.

: : The other option would be to retrieve twice. Retrieve transactions so that your money market investment is created. You can then assign it as the default cash account. During the transaction preview of the first retrieve, un-select all transactions except one that creates this money market.

: That's something I tried last evening. A couple of basic questions concerning this proceedure because my results seem to be more inaccurate when I attempt to use it: 1) Can you explain how to use the check the box labelled "Automatically Record Corresponding Entries in the Default Cash Account" during the first and second retrievals? 2) Must I only select the non-default cash account transactions on the second retrieval, or may I merely download all transactions on the second retrieval with the software automatically omitting the default cash account transactions?

1) The first time you retrieve your sub-portfolio is empty, and there is no default cash account, so it doesn't matter the state of the "Automatically Record Corresponding Entries in the Default Cash Account" option. I would use the buttons to "Select None" and then manually just check a single transaction for the money market, so that it is created with 1 transaction. After the retrieve, go assign it as the default cash account under the Properties... of that sub-portfolio.

2) On the second retrieve make sure the "Skip Transactions Already In Fund Manager" option is turned on, so that one transaction from the first retrieve isn't double counted. Leave all the transactions selected the second time. Turn on the option "Automatically Record Corresponding Entries in the Default Cash Account" to have your default cash account debited/credited for all the buys/sells.

If you're getting inaccurate results, I would investigate what/why using first a Portfolio Value report, and then the Data Register. Use the Portfolio Value report to compare your current share balances in FM against the correct balances. If some investment is incorrect, then use the Data Register with the "Invesments (all)" data type to see if you're missing transactions, have extras, or some are just incorrect. Just left mouse click on that investment in the report to open the Data Register to that investment.

Are the results inaccurate for all your investments, or is just the cash balance off? Is it because your transactions only go back 2 years, and you're off by the beginning balance 2 years ago?

: : Maybe we could add a check so that if a sub-portfolio was initially empty you be given the option of choosing one of the investments from the retrieve to use as a default cash account.

: That would be helpful. Any ETA on such a feature enhancement?

Possibly in version 8.0, which is scheduled for late Fall, early Winter. I can't promise any specific feature until it is released, but hopefully we'll get this added in 8.0.

Thanks,
Mark
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Fund Manager - Portfolio Management Software

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