Default Settings for Investments?

  • Thread starter Jack Dannenberg
  • Start date

J

Jack Dannenberg

I am tracking investments with Money 2004. I want to make many historical
entries to have a complete transaction history. If I open the account for
XYZ mutual fund and start to make entries I must continually choose XYZ
mutual fund from a pulldown list of all my accounts for every transaction
that I enter. This does not make sense to me. If I am making entries in the
XYZ account why do I have to tell Money every time what account I am
entering information for? Is there a setting that I need to make so that
entering transactions default to the account that is open? Quicken defaulted
to the account that was open. This may seem minor but when you are putting
10-20 years of history into 20 accounts it is very annoying.
Thanks,
JackD.
 
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D

Dick Watson

The account should NOT be for ZYX mutual fund, unless that was the only
Investment you held in an Investment Account at, say, XYZ Funds Co.

But perhaps I misunderstand what you are doing.

You should also be able to type X[tab] (assuming it's the only X investment)
in the Investment box rather than having to pull down anything.

I would also wonder what benefit you hope to gain from Money by entering
lots of old transaction history. There may not be sufficient benefit to
justify doing it, no matter how you do it. There may also be other ways to
accomplish some of your objectives.
 
C

Cal Learner-- MVP

I am tracking investments with Money 2004. I want to make many historical
entries to have a complete transaction history. If I open the account for
For most mutual fund companies, you set up an account that can
contain one or more investments. Some mutual fund companies have one
account per fund holding, and that is apparently how you are set up.

XYZ mutual fund and start to make entries I must continually choose XYZ
mutual fund from a pulldown list of all my accounts for every transaction
that I enter. This does not make sense to me. If I am making entries in the
XYZ account why do I have to tell Money every time what account I am
entering information for?
That list is choosing which investment you are entering into the
account register. If you type the first character or so, Money will
autocomplete the investment. You can press <tab> to continue on if
Money has the right thing. It might make sense to rename each
investment so that the first character is unique, at least during
this process.
Is there a setting that I need to make so that
entering transactions default to the account that is open? Quicken defaulted
to the account that was open. This may seem minor but when you are putting
10-20 years of history into 20 accounts it is very annoying.
If you have a Quicken file from Quicken 2003 or earlier, you could
probably convert that and save a lot of time.

Thanks,
JackD.

Basic Money Glossary (prototype)

Account

A collective place to place transactions. An investment account
would normally hold stocks, bonds, and/or mutual funds. There are
also bank, credit, and asset accounts. Money Help item "account"
gives a description.

Category

The Money help item "category" says "A way to sort your income and
expenses into meaningful groups so you can see income and spending
patterns in Money reports." That seems like a good description.


Favorite Account

An attribute of an account to give it easier access. See help item
"favorite".


Investment

A security such as stock, bond, or mutual fund. See Help item
"investment". Investment Buys and Sells are entered into an
investment (type) account, but an account is not an investment.
Normally when your broker assigns different account numbers, each
account number would correspond to an account. Each account can
contain many different types of investments.


Money File

The file that normally has the extension .mny. It contains the
data for money as well as most of the settings. It can be moved,
deleted, or copied by normal operating system means. See Help item
"file".

The Money file can be backed up to a Money backup file with a .mbf
extension. Give careful thought to your backup policy.


Watch Account

An account that is not real, but is for the purpose of watching
securities that you may not actually own. See help item "watch".
 
J

Jack Dannenberg

I would also wonder what benefit you hope to gain from Money by entering
lots of old transaction history. There may not be sufficient benefit to
justify doing it, no matter how you do it. There may also be other ways to
accomplish some of your objectives.
I wanted to track my actual returns for different periods. Also some
accounts were rolled over into others. Yesterday I found that all of this
work will be saving me quite a bit of money as I am going to a financial
advisor to set up my retirement income. They wanted all of this data to
establish cost basis and do calculate which accounts were best to draw money
from whne taking taxes into consideration.
 
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D

Dick Watson

Well, Money can support all of that, but it will take some effort to get it
all in. You may want to skip the account rollover activities--or at least
simplify them out by tracking the transaction history in a current
Investment Account. But you will likely have LOTS of transactions to enter,
what with things like dividends and so forth over time.

One caution: be sure you understand the difference between Investments and
Investment Accounts before diving in as well as be sure to understand the
types of Investment Activities and how they work. Another caution: the
returns data you will be able to compute will be limited by the price
history, which in cases like this will be based pretty much entirely on buys
and sells as you will not have historical quotes at long past dates in the
middle of nowhere, relative to transactions, to fix values. Another caution:
this will likely be a LOT easier if you start from the oldest and work your
way forward, particularly if sells are involved. Yet another caution:
understand how Money handles things like mergers and splits before hand if
in all of this history you have any of those involved. And one last caution:
do this incrementally, check your results (account summaries, reports, total
share balances vs. statement balances and so forth) frequently, and make
incremental file backups and copies of your .MNY data file as you progress.
The reason for the last caution is you don't want some problem (a bad or
missing data entry, some miscategorized investment, or what not) to creep
too far in. These can be incredibly hard to find if there's too much data to
weed through.

Post back with questions as you go. This is a significant undertaking, but
as you note the results may be worth some money.
 

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