Summary: | Entry of Investments | ||
---|---|---|---|
Product: | [Applications] kmymoney | Reporter: | southern.wolf.01 |
Component: | general | Assignee: | KMyMoney Devel Mailing List <kmymoney-devel> |
Status: | REPORTED --- | ||
Severity: | normal | CC: | ralf.habacker |
Priority: | NOR | ||
Version: | 4.8.3 | ||
Target Milestone: | --- | ||
Platform: | Other | ||
OS: | Microsoft Windows | ||
Latest Commit: | Version Fixed In: |
Description
southern.wolf.01
2019-06-14 14:42:14 UTC
Just a very quick first response - you need to give a bit more details on exactly what you are trying to do. You really need to understand that in KMyMoney, and investment account can only hold securities/equities, and that any cash must be in an associated Brokerage (checking, for example) account. What is often thought of as an actual investment account (with an investment company for example) matches to a pair of accounts in KMyMoney, not just the investment account. If your company makes a cash deposit into your 401K account, in KMM that is done with a deposit into the brokerage account. If the company makes an outright grant of stock, that is done with "Add Shares" in the investment account. The requirement for cash to come from or go to someplace will not be dropped - it would violate the norms of double entry bookkeeping. However, the cash coming into a checking account (or brokerage account) can come from a Payee. If you are going to buy stock in an investment account, you need to pay for it with cash from the brokerage account. Simply doing an "Add shares" does not require any cash. Also note that the brokerage account is not necessarily a real bank account. It is used to track the cash holdings in the investment account. (This may change in a future version of KMM, but although it has often been requested and discussed, it is not likely to happen very soon.) Please let us know if this helps or not. (In reply to Jack from comment #1) > Just a very quick first response - you need to give a bit more details on > exactly what you are trying to do. You really need to understand that in > KMyMoney, and investment account can only hold securities/equities, and that > any cash must be in an associated Brokerage (checking, for example) account. > What is often thought of as an actual investment account (with an investment > company for example) matches to a pair of accounts in KMyMoney, not just the > investment account. If your company makes a cash deposit into your 401K > account, in KMM that is done with a deposit into the brokerage account. If > the company makes an outright grant of stock, that is done with "Add Shares" > in the investment account. The requirement for cash to come from or go to > someplace will not be dropped - it would violate the norms of double entry > bookkeeping. However, the cash coming into a checking account (or brokerage > account) can come from a Payee. If you are going to buy stock in an > investment account, you need to pay for it with cash from the brokerage > account. Simply doing an "Add shares" does not require any cash. Also note > that the brokerage account is not necessarily a real bank account. It is > used to track the cash holdings in the investment account. (This may change > in a future version of KMM, but although it has often been requested and > discussed, it is not likely to happen very soon.) > > Please let us know if this helps or not. Thanks for responding Jack, The 401k I have through our company holds securities/equities. However I shouldn't have to first create a brokerage account in KMyMoney, add in money from the company I never see into that account, only to then transfer it out into an investment account to be able to track my company funded investments. That would just take extra time for each and every investment made. Being able to just enter the Activity, Security, Shares, Price, & Total Amount would be so much simpler. It also would also not clutter up the "Assets" side of the homepage with multiple brokerage accounts (401k & Pension for me, and my wife also has a couple of accounts to track). By simply "adding shares" there is no way to know what my average share price is since the quantity and price never get entered. I do understand where you are coming from with the double entry bookkeeping. We also run a small business on the side of our regular jobs, and having the "option" to select an account is great for when we make deposits into our Roth IRA from our checking account. Please let me know if you need more information on what I am trying to accomplish. First, you don't actually need to create a separate brokerage account for each investment account. The only real absolute requirement is that for any investment transaction that needs or produces cash (buy, sell, dividend, ....) you must specify an appropriate account for the cash to go to or come from. As most investment accounts do hold cash, it makes sense for there to be a dedicated brokerage account. If your 401K never holds cash, then it's not needed at this time. However, for any investment account which CAN hold cash, then the associated brokerage account is the only way to go, until there is enough developer time and motivation to redo all of how KMM deals with investments to allow cash directly in the investment account. In your case, it sounds like you are not purchasing stock, you really are adding shares. An "add shares" transaction requires all the details you list except for the price. I'm not sure why you think the quantity doesn't get entered. You can then do a manual price update to specify the price on the day the shares were added. Yes, it's a minor additional step, and it might be worth allowing an add shares transaction to include the price at the time. (This could be logged as a "wishlist" bug.) In term of how you handle your Roth IRA - yes, you can purchase shares in it with funds directly from your checking account. However, I would personally accept the presence of a brokerage account (transfer frunds from checking to brokerage, then purchase shares) as it more accurately reflects how things work. Even if all purchased in that account use funds directly from your checking account, I believe you will eventually need a brokerage account, if you sell one stock and buy another, or when you start taking withdrawals. That may well be far in the future, in which case it can certainly wait. (In reply to southern.wolf.01 from comment #0) > First let me say that I came over from Microsoft Money (been using since > 2004) and LOVE KMyMoney. Nice to hear. > I have only found two downfalls of this wonderful > software that I hope you can address. First is in general ledger entry. > Please make the tab you're working under a different color or shade > (deposit, transfer, withdrawl). I don't know how many times I have entered > under the wrong tab since I couldn't tell which one was selected. The widget style is provided by the underlaying Qt libraries and/or KDE theming. It is required to investigate how to change this style on Windows. As a workaround to switch off the transaction form (Settings-Configure KMymoney->Ledger->Show transaction form) (In reply to Ralf Habacker from comment #4) > (In reply to southern.wolf.01 from comment #0) > > First let me say that I came over from Microsoft Money (been using since > > 2004) and LOVE KMyMoney. > > Nice to hear. > > > I have only found two downfalls of this wonderful > > software that I hope you can address. First is in general ledger entry. > > Please make the tab you're working under a different color or shade > > (deposit, transfer, withdrawl). I don't know how many times I have entered > > under the wrong tab since I couldn't tell which one was selected. > The widget style is provided by the underlaying Qt libraries and/or KDE > theming. It is required to investigate how to change this style on Windows. The used Qt library provides the following styles cde mac motif plastique cleanlooks windows start kmymoney with the -style <stylename> to change the style. e.g. kmymoney --style plastique |