Re: Initial Account Corrections

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Posted by Mark on July 24, 2007 at 15:15:01:

In Reply to: Initial Account Corrections posted by Guy Porter on July 24, 2007 at 14:57:33:

: I started off my entry for a set of accounts without using auto fill from the broker. I used the 12/31/06 statement to populate the account, but was careless with the cash account balance. I have entered correctly all the transactions for January through June of this year. In order to get the accounts to balance, I plan to zero cash account's initial purchas and then undo the intial transactions of all equities.

: I will then reenter the initial equities by assuming that the 12/31 holdings were purchased on 12/31. Then I will enter an initial cash investment in the amount of the negative balance (which will result from buying all the equities with no money in the accoount) plus the balance showing on the account statement for cash. Is this a good way to handle a bad mistake?

Hi Guy,

If all of your investments are entered properly, I wouldn't mess with editing anything in those investments. You can make any balance corrections you need, directly in the cash account. For example, if you have a large negative balance currently because you made a bunch of purchases, just record an initial deposit into your cash account, to make the current balance correct.

If that doesn't clarify things, maybe you can describe what specific problem you're seeing in the cash account?

Thanks,
Mark
--
Fund Manager - Portfolio Management Software

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