Importing Quarterly Fees (Generic

[Good_Vibe]

Dear Mike:

Your help was so effect for my last question, I'm asking for more now.

We have seven accounts (non-qualified, IRA (2), ROTH (4)). For tax reasons, we pay all the quarterly fees from the non-qualified account. I'm in the process of importing all transactions (BUY, SELL, TXIN, TXOUT, DIST_D, DIST_L, DIST_S, REINV_D, ... etc.) to convert our asset management to Fund Manager.

I have the quarterly fee for each quarter for each account for the period of interest. Should I specify the transaction value as DIST_F or TXOUT?

What I want is to have the fees deducted from the default cash account for the non-qualified account. I'm using the MEMO field so I have detail information about each fee; plan to use the MEMO value to screen various reports.

Thanks,
Phil

[Mark]

Hi Phil,

If you want the fees to reduce your performance, record it as an account fee. If you just want the money taken out, without reducing performance, record it as a sell of cash, or a transfer out of cash.

For the account fee method, if you took cash out to pay for the fee, you would record this as a reinvested distribution of the type "Account Fee". The value and shares would be negative numbers. Since you are using the generic transaction import, you would use REINV_F with a positive price of $1, and a negative number of shares equal to the value of the fee.