SUMMARY First let me say that I came over from Microsoft Money (been using since 2004) and LOVE KMyMoney. 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. More importantly though is the investments area. I tried to move my investments from Microsoft Money and quickly found out the limitations of KMyMoney. I have both a pension, and company 401k. When I tried to add the latest deposits into those, KMyMoney forced me to select an account to transfer the money from. Seeing as how the money for those two investments never reach my bank account, KMyMoney is useless for tracking my investments. I am now forced to keep my investments in Microsoft Money, and the rest of my financial life in KMyMoney or just move everything back to Microsoft Money. From your documentation... Account For any transaction which generates or requires money, you must enter the account where the money is transferred to/from. If your investment account has an associated Brokerage account, it is usually best to transfer the funds there. This applies to funds for purchase or sale of the security, as well as for fees paid or interest or dividends earned. Would it be possible to make a change in the programming so transferring money from an account in the investments area is optional instead of mandatory? This prevents those of us with company offered retirement plans from entering investment transactions into KMyMoney. Thanks for the consideration. STEPS TO REPRODUCE 1. 2. 3. OBSERVED RESULT EXPECTED RESULT SOFTWARE/OS VERSIONS Windows: 7 macOS: Linux/KDE Plasma: (available in About System) KDE Plasma Version: KDE Frameworks Version: Qt Version: ADDITIONAL INFORMATION
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