Nube question on Journal Entries for investments

[Thaumaturgist]

I have created a seres of investments. Now I need to create the Beginning balance for them. It’s been years since I did any bookkeeping. If my investment is 500 shares of Manager.IO as an example, what account do I debit and credit? An example would be nice.

Thanks

[Joe91]

You create a Payment and indicate the account where the purchase was made, the price, the quantity and the date

There is no need for a journal entry

I presume you have setup a bank or broker account

[lubos]

Establishing starting balances using journal entries is not a problem. Just debit or credit Investments control account, then select investment.

Make sure Column - Qty is checked on journal entry so you can enter starting quantities too.

[Thaumaturgist]

Thanks, would not have thought about the quantities column. I’m looking all over, where do I find it?

[eko]

@Thaumaturgist

where do I find it?

You need to enable the checkbox further down the Journal entry page then the column will show, see screenshot.

You could enable such permanently by clicking on the Form Defaults button on the main tab page for Journal entries (similar to all tab pages that have forms), see screenshot below:

[Thaumaturgist]

I don’t mean to be thick. I debit the Investment, credit the control account. The Investment is an asset and the control account is equity? If I am working with multiple investment accounts, do I create a control account for each investment account?

Investments as an asset allows me to select from the list of investments defined in Investments section. The control account, also an asset does not drop down anything.