How can I input funds management fee in Money 2004

Discussion in 'Microsoft Money' started by Frog, Feb 24, 2008.

  1. Frog

    Frog Guest

    Hi, I am using Money 2004 and I have a problem to inputting a funds
    management fee to my portfilio. This managed fund charges Management fee
    monthly and deduct my fund unit to fulfill it. I think I can only input this
    transaction as a "remove shares" activity. But if I do this, the avg. cost
    will be wrong and also I can't tracking how much I pay for them. Is there
    any way to archieve this goal?

    Frog, Feb 24, 2008
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  2. To match what is happening, you could enter an OtherExpense
    transaction for the fund and also a Sell transaction to raise the
    funds to buy to pay the fee.
    Cal Learner-- MVP, Feb 24, 2008
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  3. Frog

    Steve Guest

    I do this as a sell, with the proceeds going to the associated cash
    account. Then I record the management fee in the cash account.
    Steve, Feb 24, 2008
  4. The difference in making it an Other expense in the Investment
    Transactions register vs the Cash register is whether the expense is
    considered in computing the performance of the investment.
    Cal Learner-- MVP, Feb 24, 2008
  5. Frog

    Steve Guest

    Hmmmm -- I didn't know that.

    Now I have to decide whether I want to evaluate performance of the
    security by itself (keep the transaction on the cash side), or evaluate
    performance less expenses. Decisions, decisions ...
    Steve, Feb 25, 2008
  6. Frog

    Frog Guest

    Firstly, Thanks for your help.

    My case is a little bit complicated. Actually I have decide to suscribe a
    saving plan ten months ago. The Plan need to pay monthly installment for a
    couple year. The amount was 480.02 per month. The Plan itself has a
    management charge per every 1st of the month by deducting certain amount of
    the fund units. Also it has a first year bonus which was 36 per month. The
    situation shown as below example

    1 Feb 2008 Management Charge -0.699 unit $12.52
    < This line I enter as activity "Sell" and I fill the comm. feild with the
    same amount
    12.52. So the total amount is 0
    3 Feb 2008 First Year Bonus $36.00
    < This line I enter as activity "Other Income" and bounced to a income cat.
    3 Feb 2008 10th Installment 28.727 unit $516.02 (480.02 +
    36.00) < This line I enter as activity "Buy".

    are these allright?

    In my custom view of portfolio.
    The Qty using this method absolutely no problem. But the Cost Basis have
    problem. It will not count my sold unit of the fund but I think it acutally
    I pay for it. So Which field can I see I pay for? I have pay 10 times so
    totally I pay $4800.2 for it. Thanks anyone can help me.
    Frog, Feb 25, 2008
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