General questions about using Fund Manager that do not fit into any other forum.
Okay I figured out the the Currency field I am looking at is the default currency set in currency options.
Now I am not sure I can do what I need to. I need to generate capital gains reports on my portfolios in both USD and CAD. My portfolios contain trades in CAD and USD.
The previous software I was using had quote currency and display currency settings.
Okay, now I see that if I change the Currency field manually it overrides the global setting, which brings me back to my original post. Can I batch set the currency field?
The currency property of each investment is an investment property, not a global property. You can define your currency symbols and exchange rates between currencies under "Options / Currency Settings...". These settings are global. So, if all your investments came in assigned to the first currency position, you can go to the Currency Settings... dialog, and change the label for the first currency position to CAD, since most of your holdings are in CAD. If you make the 2nd position USD, you would need to manually go to each investment, under "Investment Properties..." and change them to the 2nd position, where it says USD. You can also specify the currency at the time of import, depending on the import format. What format did you import from?
In addition to setting the currency property at the individual investment level, you can also do it on a per-symbol basis if you have the Advisor version installed under "Edit / Symbol List...". This can be helpful when you have multiple clients all owning the same security. If you only have a single investment per security it won't save you any effort.
For help on setting up an exchange rate investment, to convert between USD and CAD, please see this tutorial:
http://www.fundmanagersoftware.com/tuto ... video.html
Okay let see if I understand.
1) The currency property is a investment property but is set to equal to the global default currency when no currency is specified for an investment.
2) There is no way to batch change an investment property across multiple investments but the currency can be set on import.
I exported to qif format and imported transactions with create new investments as needed. How do I set the currency? I don't see any option in the dialog boxes.
Advisor is not an option as I am an individual investor who is just trying to do my taxes which I have to file in the US and Canada.
I exported the data using the generic export command and set the currency variable.
I imported the data back into a new portfolio and the investment level currency variable still changes with the global default currency unless I manually set the currency at the investment level. What am I doing wrong?
Yes, it is an investment property, and if your import doesn't specify the currency, new investments will default to the first currency position, which is the default currency.
Correct, but not for all imports, only from formats that support it. The QIF format does not support specifying a currency, but the generic one does.
When you did the import, did you add a CURRENCY key to the input format string? In your data file that you were importing, did you have one of the currency symbols specified in this position? When you do this import, you need to specify CURRENCY, and the value for each transaction should be set to match whichever currency position you want that new investment to be created for. For example, if your default currency is AUD, and your 2nd currency is USD, as shown under "Options / Currency Settings...", then you need to have either AUD or USD in the importing file. If everything is done correctly, newly created investments for USD will be assigned as USD and newly created investments for AUD will be assigned to AUD. Set up your currency settings under "Options / Currency Settings..." to the labels/position you want, before doing this import. If you change "Options / Currency Settings..." after you do the import, this does not change the investment property. The investment property is memorizing the currency "position", so for example, it may be set to the first currency, second currency, etc. If you change the symbol for the first position in "Currency Settings..." this changes the currency symbol for all investments set to use the currency in the first position. Basically, if you set up your currencies as you want first, and then do the import, everything should be fine, as long as you include the CURRENCY key in the format string, and the appropriate currency symbol in your importing file.
Okay I think I got it.
I need to set the currency options with CAD as Currency 2 and USD as Currency 3. When I import data I need to make sure the default currency is not set to USD or CAD. Then the Currency field of all my imported transactions will either point to Currency 2 or Currency 3.
When I run a capital gains report I set the default currency to the currency I want my report in.
So when I run the capital gains report with USD as the default and I have USD as Currency 3 with the exchange rate defined to convert to CAD will the program ignore the exchange rate or will it apply the USD/Currency 3 exchange rate to transactions that are set to USD/Currency 3?
When you run any report, you can have the "View / Exchange Rate Adjusted" either turned on or off.
If it is off, everything is displayed in its native (assigned) currency, with no exchange rates applied.
If it is on, everything is displayed in the "default" currency, or currency position number 1. If any investment is assigned to a non-default currency, it is adjusted by whatever you have set in the Currency Settings dialog for that currency. So, currency 2 will be adjusted to currency 1 (default) by whatever you specify. Currency 3 will also be adjusted to currency 1 (default) by whatever you specify. You can specify separate exchange rates to the default currency for each currency position. So, what you choose for currency 2, only affects currency 2, etc.
I tested my settings on the currency settings and it is a problem. In my previous post it will apply the Canadian exchange rate and "change" USD to USD.
Again I have investments in CAD and USD and need to get the capital gains in USD and CAD.
The only way I can see this working is if I maintain parallel portfolios one with the USD as default and the other with CAD as the default currency.
Or I guess I would need to change the Exchange rate to default to constant = 1 when I switch the default currency. Ya, that should work.
The method I proposed a couple posts back does not work for down loaded transactions from the broker web site as the currency is set to the Default / Currency 1 setting. Every time I update my transactions I would need to export to text file, change the currency and reimport.
Looks like I would need to purchase Advisor to get this program to do what I need.
Do you want to be able to convert all your USD and CAD into all USD and also all CAD? If so, this would require you to change the "default" currency between when you want to view everything in USD and when you want to view everything in CAD. For example, you could have all your investments assigned to currency 2 (USD) and currency 3 (CAD), and then change the exchange rates and default currency as shown here:
Case 1 (to show everything in USD):
#2 USD (exchange rate set to 1)
#3 CAD (exchange rate CAD->USD)
Case 2 (to show everything in CAD):
#2 USD (exchange rate USD->CAD)
#3 CAD (exchange rate set to 1)
To get this method to work with new investments downloaded from your broker just make sure you only have 1 currency labelled USD and one labelled CAD, and that the default currency is not labelled as "$". Transactions downloaded from your broker should specify the currency as a 3 character symbol, and if the broker does provide this, Fund Manager will match up that 3 character symbol with the currency position you have labelled with that same currency symbol. This means all your new USD investments will get assigned to currency 2 and all your CAD investments will get assigned to currency 3. (There is a special case where if the currency is specified as USD by the broker, and you have the default "$" for the currency 1 label and you have left the default USD in currency 24, then it will assign currency 1 to the new investment.)
If for some reason your new investments are not getting properly assigned to the currency 2 and 3 positions, take a look at the log file from a transaction retrieve, and verify what currency symbol your broker is reporting. You can open up the xmldump.txt log file, and search for CURSYM. It should show a 3 character symbol for each transaction. This is the symbol you'd want to use in Fund Manager, so that they match up upon import. For help finding the log file, see the bottom of this page:
I have already set everything up as you suggested (except I had Currency 1 set to DEF). All the transactions were set to DEF on import.
Here is part of the log file with the header with the USD and the first transaction. it is a Scottrade account. Does CURDEF need to be in every trade?
- TRNUID (9081-FM7-20120301222303-218)
- CODE (0)
- SEVERITY (INFO)
- DTASOF (20120302012312.239[-5:EST])
- CURDEF (USD)
- BROKERID (http://www.scottrade.com)
- ACCTID (#######)
- DTSTART (20100902010000.000[-4:EDT])
- DTEND (20120302000000.000[-5:EST])
- FITID (560898157C)
- DTTRADE (20120217120000.000[-5:EST])
- UNIQUEID (294077102)
- UNIQUEIDTYPE (CUSIP)
- UNITS (-30000)
- UNITPRICE (0.0195)
- COMMISSION (9.93)
- TAXES (0)
- FEES (0.02)
- TOTAL (575.05)
- SUBACCTSEC (MARGIN)
- SUBACCTFUND (MARGIN)
- SELLTYPE (SELL)
Regardless if we can come up with a workaround it would be helpful for the software to have multi investment field change functionality. I would think this could be added as an interface without modifying the structure of the program. Other database based programs such as itunes have this ability. However I realize it is more difficult to implement than it seems to me.
Unfortunately, FM isn't supporting CURDEF, it only supports CURSYM. We should add support for this, and we'll plan to do so. CURDEF sets a default currency, unless it is set differently in each transaction by CURSYM.
If there is no CURSYM, Fund Manager will look for other investments with the same symbol. If you have some others, all with the same symbol, it will use the same currency as those investments. If you don't have other investments with the same symbol, then Fund Manager looks at all the investments in the sub-portfolio. If all the investments in this sub-portfolio are assigned to the same currency, then it uses that currency. If none of these apply, then it defaults to the default currency (currency 1).
Do you have a single account that has both CAD and USD investments? If so, the default currency assignment may be tricky. If you have a USD only account and a CAD only account, you can create 2 sub-portfolios, one for each account, and as long as all your investments in each sub-portfolio are a single currency, new retrieved investments should be assigned to that same currency.
The capability for multi-investment property edit is available in the Advisor version on a per-symbol basis. It is under "Edit / Symbol List...". It seems it would also be good to be able to just select a group of investments, and modify the properties of what you have selected. We can consider this for a future update.
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