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Fidelity fee reporting vs FM portfolio reports

Questions on using, creating, or understanding data in Fund Manager reports.

Postby MartyP » Tue Feb 12, 2019 11:32 am

Hi- My monthly investment reports sent by Fidelity shows transaction costs applied to buys and sells. Fidelity lists the total transactions costs in their Activity section as a negative number and then shows same negative amount in the Portfolio Value Summary. Thus accrued transaction costs are clearly reported but not included in Core account.

FM includes the negative amount in the Cash data register thereby reducing the total cash amount presented.

Is there a way to configure FM to display accrued transaction costs so transactions costs are presented in a way that I can readily compare and verify Fidelity's report? Thanks!
MartyP
 
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Joined: Thu Feb 08, 2018 10:21 am

Postby Mark » Tue Feb 12, 2019 1:03 pm

Hi MartyP,

If the fees are associated with some investment, record them in this investment, and not cash. If the money was taken out of cash, to pay for the fee, then record this as a negative valued distributed distribution in the investment. If you're using the default cash account, you will sell cash to pay for this negative distribution.
Thanks,
Mark
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Mark
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Postby MartyP » Tue Feb 12, 2019 7:37 pm

Got it. One last question... In the Cash Data Register there is a column labelled Fee yet there are no entries. What's the purpose of this column? Thanks.
MartyP
 
Posts: 19
Joined: Thu Feb 08, 2018 10:21 am

Postby Mark » Wed Feb 13, 2019 9:11 am

Hi MartyP,

The columns displayed in the Data Register depend on what you have selected under "Data Type". It doesn't matter which investment you have selected as far as what columns are displayed, it just matters about the data type. If you're showing transactions, there is a Fee column to show any commission fees paid for each transaction.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
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Postby MartyP » Wed Feb 13, 2019 10:02 am

To confirm, fees paid to buy or sell an investment are retrieved to that investment's register but not the Cash register's fee column. The only fees that would appear in the Cash register would be fees associated with a cash transaction. I can't think of an example of that, but do I have the theory right? FM is certainly the best financial management program I have used so far. I really like the speedy performance! Thanks!
Marty
MartyP
 
Posts: 19
Joined: Thu Feb 08, 2018 10:21 am

Postby Mark » Wed Feb 13, 2019 10:19 am

Hi MartyP,

Yes, you have that right. Glad you're enjoying Fund Manager, thanks for the nice comment.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
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Posts: 8834
Joined: Thu Oct 25, 2007 2:24 pm
Location: Chandler, AZ

Postby MartyP » Mon Jul 29, 2019 4:49 pm

Mark wrote:Hi MartyP,

If the fees are associated with some investment, record them in this investment, and not cash. If the money was taken out of cash, to pay for the fee, then record this as a negative valued distributed distribution in the investment. If you're using the default cash account, you will sell cash to pay for this negative distribution.


Hi Mark- Still trying to get this right. Here's a hypothetical transaction exactly as retrieved from Fidelity:
Buy 100 shares of a stock at $150.00/share with a $5 commission. Total amount of transaction=$15,050
In the stock subaccount FM shows Price=150.00/share, Shares=100, Total=15,005, Fee=$-5
In the cash subaccount FM shows Price=1.00/share, Shares=-15,005, Total=$-15,005, Fee=0
To me this seems right just as it stands: I bought shares and "paid" for them and the fee with cash.

When I reconcile to the Fidelity statement, the number of cash account shares in FM seems too low by the amount of the fee compared to the Fidelity statement. I don't understand why. Your "sell cash" comment seems to be baked into the cash subaccount already since sufficient cash was used to pay for the stock shares and the commission. I apologize for taking so much of your time on this! Thank you.
MartyP
 
Posts: 19
Joined: Thu Feb 08, 2018 10:21 am

Postby Mark » Tue Jul 30, 2019 8:40 am

Hi MartyP,

Your transactions look to be recorded properly here. The cash would have been reduced by the total 15,005. You might just need to look at all the recorded cash transactions and reconcile the difference. Please watch the Reconciliation Tutorial for help in doing this.
Thanks,
Mark
Fund Manager - Portfolio Management Software
Mark
Site Admin
 
Posts: 8834
Joined: Thu Oct 25, 2007 2:24 pm
Location: Chandler, AZ

Postby MartyP » Tue Jul 30, 2019 10:50 am

Thanks!
MartyP
 
Posts: 19
Joined: Thu Feb 08, 2018 10:21 am


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