Reconcile FM Report with Scottrade Monthly

[rickbu]

I'm trying to reconcile my FM Monthly reports against those from my broker. There are some differences. Should I expect to get the same monthly-end balance from FM as I see in my broker reports? What might be causing differences that I see?

[Mark]

Hi rickbu,

Yes, your balances should match. If they don't, you can start by "reconciling" your account in Fund Manager. This ensure your share balances are all correct, against your statement balances. Once your account is reconciled, the portfolio values will match, as long as you have the same closing prices on the statement date. The value of any investment is the number of shares times the closing price on that date. If the shares balance, and the price matches, then the value will be correct.

If a value is off, check to see if the share balance is correct. If it isn't, look at your transactions, as the share balance is just the sum of all the transactions up through that date. If the share balance is correct, look at the recorded closing price. If those two things are corrected, the value will be correct. You can check these things in the Data Register (Edit / All Data...). Transactions are viewed under the data type of "Transactions (all)" and closing prices are under the data type of "Prices".