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We need a category for Investment Fees and Commissions

SystemSystem Member ✭✭✭✭
edited April 4 in Investments (Mac)
This discussion was created from comments split from: Tracking Commissions on Investment Txns.
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  • IcePylonIcePylon Member
    Tax-deductible Investment fees need to be tracked. When selling exactly enough shares in a security to cover the fee, the fee can be inserted in the commission box, and the Total Sale is $0. If an estimated number of shares are sold the proceeds sit briefly in your cash balance. Then the actual fee is drawn from cash. It can still be recorded as a simultaneous sale with most of the proceeds going to commission. This results in a small accumulation in your cash balance.

    The PROBLEM occurs when the fund manager recognizes the cash balance and uses it to supplement the estimated amount of the sale. The value of the shares sold is slightly less than the actual fees, so it is necessary to enter the Total Sale value as a negative number. Quicken (For Mac) DOES NOT ALLOW A NEGATIVE VALUE in the Total Sale field. It is necessary to record two separate transactions: one for the sale, and one for the Fees. Unfortunately, there is no way to Categorize this transaction so the Fees will show in the same location as the other months on an investment report

    This does not seem to be something that cannot be addressed. We simply need a category for Investment Fees and Commissions.
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