Tips on recording investments

Leanne Veitch
Leanne Veitch Member Posts: 10
I am new to Reckon and am trying to enter managed fund investments with brokerage.  Do people recommend I use the single managed fund option?  When I tried this and used the 'commission' box to separately record the brokerage but then when I look at the investment window it shows the brokerage as an unrealised loss.  Should I instead record the transaction including the brokerage...it doesn't seem to like it as the number of units x price then doesn't equal the investment so i had problems with the data on the cash flow entry.  Should I instead use the 'brokerage' account set up option for all the managed fund and share investments? 

Comments

  • Stan Goodacre_7962994
    Stan Goodacre_7962994 Member Posts: 7
    edited May 2016
    Hello, Leanne,

    I have found that the simplest way is to treat managed funds in the same way as shares ie. the unit price is treated as if it were a share price when brokerage is easily inserted.
    Distributions can't be treated like dividends, however. I don't attempt to do any more than enter the total distribution figure at the time it is received  as "IncTrst" and wait for the annual statement from the fund before breaking up the various parts of the distribution into its different parts.

    There may be a better way but I haven't found it in many years of using Quicken.

    Hope this helps.

    Stan
  • Leanne Veitch
    Leanne Veitch Member Posts: 10
    edited June 2016
    There is still a problem in recording the first investment for 2 managed funds.  I have set them up identical to include the brokerage in the cost.  1 managed fund in the 'balance'' detail includes the brokerage and the other one doesn't.  I have never come across such an accounting system that results things differently.
    To technical people - is there anywhere at the 'back end'of the personal plus to edit this amount so it is recorded correctly?

    I am concerned that down the track when the capital gains is calculated it may not be correct.

    Please send me some tips as I have tried everything to get it correct
    Thanks