Quicken conversion

[kwong]

I am trying to convert from Quicken and am use to a cash position in each of the portfolios. I see where you would attach a default cash account, but how do you create one. Is it possible to create a cash account for each sub-portfolio?

Thanks

[Mark]

Hi kwong,

Yes, each sub-portfolio can have its own default cash account. If you are importing from Quicken into a new sub-portfolio, you will be prompted after previewing your transactions what you'd like to do for a default cash account. You can choose from 3 options:

1) Do not use a default cash account
2) Create a new cash investment to use as the default cash account
3) Select from the list of importing investments to be your default cash account

If you are importing a QIF file with multiple accounts, each account goes into a separate sub-portfolio, and you'll be prompted about this default cash option for each one.

[kwong]

Thanks, that really helps.

[kwong]

This might help anyone else that is importing transactions from Quicken.

In Quicken, select your account.
From the menu bar
Select File > Export > QIF file

In Fund Manager, select your Portfolio folder
From the menu bar
Select File > Import > Transactions > Quicken (.QIF) ...

Things that are obvious:
QIF File(s) to Import - point to the QIF file created from Quicken
Securities to Import from QIF Files(s) - all securities
Date Rage to Import - all dates
Import into Fund Manager Portfolio - depends if you the portfolio created and selected
Import Options - create new investment(s) as needed

[Click] on the 'Next >' button.

Works amazingly easily and the cash account is created.

Thanks.

[kwong]

I now have a question concerning moving cash between two cash accounts and what to do when there is a conversion factor like converting from CAN to USD?

[Mark]

Hi kwong,

You would record a sell in one cash account, and a buy in the other. Record each transaction in the currency of that cash account. For example, if you sell $1000 USD and buy $1015 CAN, record a sell of 1000 shares in your USD cash investment, and a buy of 1015 shares of your CAN cash investment.

If you haven't already seen the multiple currency tutorial you can view it here:

http://www.fundmanagersoftware.com/tuto ... video.html

[kwong]

Thanks Mark - that is pretty much what I thought. From an accounting perspective, this should be single transaction and should be linked. However monitoring stock performance currently is more important to me than the accounting.

Thanks for the link to the video.