How We Can Record the Financial Deposits
Author: rusman
Let’s see how we can record the financial deposits.
Let’s create an account and leave with an initial balance of $ 10,000. For our example we will use 4 new accounts, 2 2, banking and investment:
* My deposit paid monthly
* Your deposit payment due
* My investment funds
* My actions
Financial deposit paid monthly
The first bank account will be “My deposit paid monthly.” Current account will transfer from EUR 2000 dated 01/01/2010.
The settlement will be monthly, so if the pay is 4%, will yield a monthly interest of 6.55 euros gross, of which 19% will be retained (1.24 euros).
* Interest may be recorded as a monthly income of 6.55 euros in interest.
* The monthly withholding as an outflow of 1.24 euros for delays.
Upon expiry of the deposit will transfer 2000 euros deposit account to the checking account and it shall be liquidated.
Could help the recurring transactions to record interest, or use copy and paste and edit the date.
In this way, interest and withholding shall be duly recorded.
Financial deposit with annual settlement.
The second bank will be “My maturity deposit settlement.” Current account will transfer from EUR 2000 dated 01/01/2010.
As the settlement will be at maturity, annually, the interest is recorded (2000 X 4% = 80 euros) as income and deductions (80 euros – 19% = 15.20 euros) as an outflow, and the whole is transferred to the account given the deposit canceled.
This has been solved the problem with financial deposits.
As usual the recruitment of financial deposits, you may want to include them all in a single account to avoid creating short-lived many accounts, which can complicate maintenance accounts to be much short use.
Actions. (Investment Accounts).
When you create an investment account is included in the section on actions. The application gives a pretty decent support for management actions, but incomplete to investment funds.
Investment funds can be included in assets, but that only supports a revaluation or depreciation at an annual rate determined, which does not apply to assets such as mutual funds.
We decided to create two investment accounts, one for operations and one for the funds. Another option would be to create one for each bank with which we work, being able to mix stocks and funds.
The problem that I have found is that investment funds are not updated. You have to visit the page and change the value manually. At least using the yahoo page, we can automatically lead to information on the background.
Purchase of shares
we will give an order to buy 200 shares at 7.20 euros in a particular action. This is the calculation of the costs to be applied:
Purchase Order.
200 x 7.20 = 1440 euros.
Commission: 1440 x 0.20% = 2.88 euros.
Canon bag: 2.45 + 1440 x 0.024% = 2.45 + 0.35 = 2.80 euros Canon settlement: 0.003% 1440 (with a minimum of 0.04 and a maximum of 3.50 euros) = 0, 04 euros
Total cost: 2.88 + 2.80 + 0.04 = 5.72 euros
The operation was executed on January 4. Upon registration of the action by clicking New in my actions and filling out, we see that this operation is not affected at all bank accounts. Suppose the EUR 1445.72 have left the
Current account, for which must come to an Exit.
A special. If we have included the stock symbol, you can keep your contributions by clicking the Refresh button for each action, by clicking on “Edit” (or double-clicking on it), you can obtain company information by clicking the “Stock Price Web Page.” The assessment does not work with investment funds.
Purchase of investment funds
Investment funds shares accept decimal (which is not true of stocks). Money Manager agrees that change itself is put qeu decimals, so that the registration of a fund to be made in the same way.
We assume that on August 3, 2010, 2000 euros invested in the fund ES0107987036EUR. Suppose your contribution to that date was 71.79 euros:
2000 / 71.79 = 27.86 degrees (approximately)
Limitations
First, to point out that both the substance and the indicated action does not in any way a recommendation to purchase.
As you can see, there is no direct option to purchase shares or funds, but must indicate the purchase in the securities account (section Actions) and Exit in the bank account.
When you transfer, not real money out there, which does not affect our revenue and expenditure control, but instead, if we make expenditure for the purchase of shares or income from the sale, the amount will be reflected in our statement of expenditure and income. Is that what we want?