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Stable - Crypto - Coin interest

General questions about using Fund Manager that do not fit into any other forum.

Postby astropuppy » Sun Mar 06, 2022 10:38 am

Looking for recommendations on how to handle interest on Crypto Stable coins that pay interest daily. Setting Bond interest doesn't seem to accept daily interest transactions. I am new to Fund Manager, the only thing I can figure out to do is treat it as a daily dividend or roll the interest up into 3 month intervals. I'm talking literally pennies per day. Ideas?

Love the 8 decimal places in the new FM version.
astropuppy
 
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Postby Mark » Sun Mar 06, 2022 1:48 pm

Hi astropuppy,

If you actually get "paid" on a daily basis, this would be a reinvested interest distribution. To be the most accurate, you'd record a transaction every day that you actually receive interest. However, you could also do what you suggested, and roll them up every month, or 3, or whatever period you choose.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
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Postby astropuppy » Mon Mar 07, 2022 6:19 am

Thanks Mark,

Yes, I am actually being paid daily; Or, at least Gemini is generating a transaction entry daily. FYI I'm just dipping my toe in the stable coin water. 8% apr is kind of hard to pass up, I'm sure my tax guy won't be too amused next year's 2022 taxes.

Have a great day and thanks for the help.
astropuppy
 
Posts: 6
Joined: Thu Aug 26, 2021 3:43 am


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