Hello Mark,
I'm tracking several portfolios (some of which have investments in multiple currencies) using FM Pro v11 and I'd like to get your advice on how best to enter starting positions.
It isn't going to be feasible to build the portfolios up from the very first transaction; some of them are years old and have hundreds if not thousands of transactions (I have the gimp's job...). I'd like to just enter the current holdings - so current holdings of cash, stocks, bonds and so on.
I'm using your "Transfer In" dialog box a lot. I'm using today's date as the transferred in date and entering X number of shares. I haven't bothered with a market value as I'm figuring that the sstem can work this out from an up to date price.
What should I do about OOP Cost Value? I don't understand how this will be used. Also on the Tax Cost Basis section - I'm entering the book cost of the investment but I am leaving the date as of today.
For example: let's take BHP Billiton (BLT.L)
- I have 1,550 shares - so I'm entering in 1,500 shares transferred in on 10 May 2011.
- I have left Market Value and OOP Cost Value blank.
- In the Tax Cost Basis section I am putting in 10 May 2011 for Date Acquired and £29,837.66 in Value.
I also update the Price with today's price: so £24.49 per share.
This seems to show all the right numbers - so I have 1,550 shares worth £37,959.50 with an unrealised gain of 27.22%
But I'm a bit worried that in the future I'll wish I had somehow worked something out for OOP Cost, Market Value etc. and put in the correct dates (although not always possible for investments built over time in more than one transaction).
Could you please let me know if my approach is basically OK and what are the shortcomings?
Many thanks,
Tom.