Re: investment tracking and withdrawals
Posted: Sun Feb 07, 2021 2:15 am
Partially correct .. if you add funds directly to the investment you would use the 1851/3121 transaction, and if you had interest or the value went up according to the broker statement, you would STILL use the 3121 net asset/fund balance as that will reflect the entire value, no need for two fund balances there, I'd make the 3125 inactive.neac wrote: ↑Sat Feb 06, 2021 7:26 pmSo I'm still trying to wrap my head around how to correct the amount in our investment, and want to make sure I have the accounts set up properly in the new fund. In our case, we don't have losses, it's basically a high interest savings account.
What I have set up:
03-1851-000 Investment (currently existing in both funds 01 and 02)
03-1852-000 Interest Gained (New)
03-3121-000 Investment Fund Balance (New)
03-3126-000 Capitalized Interest (currently existing in fund 01)
I will move Investment amounts from funds 01 and 02 to 03, and capitalized interest amount from 01 to 03.
Is the balance (true value?) of the investment supposed to be shown on the Asset side, or the Net Assets side?
So if I need to adjust the investment up, I would do:
03-1851-000 DB 1000.00
03-3121-000 CR 1000.00
And when I get a statement I would do the following:
03-1852-000 DB 1000.00
03-3126-000 CR 1000.00
Yes ... as I pointed out you're not updating the fund balance 3121 which should always reflect the total of the 1851 and 1852 accounts. At the end of the year you would move the total in 1852 and add it to the amount in 1851. So at the end of the year if 1851 had 2000, you would CR 1852 and DB 1851 for $2000.There's another thread I found that mentions moving gains (interest) into unrestricted net assets at the end of the year: viewtopic.php?f=3&t=13468&p=45069&hilit ... ent#p45069
So would that be moving from 03-3126 to 03-3121?
Am I still missing something?