Good Morning,
I AM NOT AN ACCOUNTANT
I have decided that I want to track my investments in USD and let my
brokerage take care of the details of my holdings.
How would be the best way to make the conversion in GnuCash? Just "sell"
all my holdings and put the funds in opening balances then adjust the
amounts in the accounts by transferring funds from opening balances
after changing the account type to asset or would it be better to delete
the current investment accounts and start over using a new set of names.
I favor the former.
This is a sample of what I am dealing with:
IRA
IRA:Cash
IRA:Stocks
several IRA:Stocks:Symbol
IRA:Funds
several IRA:Funds:Symbol
IRA:Bonds
several IRA:Bonds:Symbol
The result would be the same except the several X:X:Symbol accounts
would go away. I would update the remaining accounts each month when I
receive my statement form my broker by debit or credit to the account
and the other side credit or debit to unrealized gains and loses. If I
sell or buy the other side would be Cash
Will that cause problems with the way GnuCash works? Is there a better way?
Cheers,
Jay
--
Jay Ridgley
jridgley2 at austin.rr.com
Registered Linux User ID - 9115
https://linuxcounter.net/cert/9115.png
Registered Ubuntu User ID - 23320
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