Re: Cash and Money Market Woes

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Posted by Mark on August 29, 2006 at 14:46:58:

In Reply to: Re: Cash and Money Market Woes posted by Steve on August 29, 2006 at 14:35:42:

: : How about not having a manually created cash account at all? Do the OFX retrieve, and then afterwards add a purchase for your cash balance as of July 2004, since you aren't getting these transactions until September?

: Thank you for your reply. Maybe I misunderstand how the cash account works, but I'm presuming that if OFX data on stocks is downloaded, and cash account data is entered after the fact, there will be no debits from cash to account for the stock purchases. Am I wrong about this?

Hi Steve,

By "cash account data" do you mean the assignment of an investment as the default cash account? If so, this is correct. When you retrieve stock data if you want a corresponding entry made in the default cash account, you must have one assigned when you retrieve/import the stock data. You can however create this same investment in your OFX data that represents the money market and assign it as the default cash account before retrieving the stock data. If you know the CUSIP of this money market, just create a new investment (File / New Investment...) and assign this CUSIP. Assign this money market as your default cash account, and then do the OFX retrieve. When you retrieve transactions via OFX the transactions are matched up with investments based on CUSIP. This way, you only end up with a single cash account (money market) and all your cash related entries can go in this one investment.

You can find an existing investment's CUSIP by going into "Investment Properties...".

Thanks,
Mark
--
Fund Manager - Portfolio Management Software

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