Hello,
I have to setup my copy of manager for trading(crypto), I have been told to organize it like this:
1 Account for daily trading
1 account for long-term investments.
How would you organize this in Manager please, I would really like to know what others have done using this software.
Thank you.
If you are referring to two different types of asset accounts, you simply add accounts with those names. See this Guide: Manager Cloud. If you want information about including those accounts in different groups, such as current assets or long-term assets, see this Guide: Manager Cloud.
(I am making no comment about whether this is an appropriate way to account for cryptocurrency investments.)
Thank you Tut.
Regarding “I am making no comment about whether this is an appropriate way to account for cryptocurrency investments.” I believe you are perhaps referring to the way they calculate crypto assets in the USA. From where I live, they have told me that what matters is what I put in and what I withdraw to my bank account and calculate the gains/losses on this.
Daily trades will be seen as sales(and go on my income tax) and long terms crypto holding will be seen as long-term investments.
I will check the 2 links you have sent me.
Thank you.
No, I was not referring to anything. I meant exactly what I wrote. I was only providing information about account creation.