The investment functionality thus far is great. However, I have been unable to locate the transaction to input foreign currency shares. Most of my shares are in AUD, but I need to recognise their values in NZD.
Can some help.
Exchange rates are entered in the Settings tab.
Sorry, But how does the investment transaction differentiate between AUD and NZD denominated shares
Please read Define foreign currencies | Manager. You can also search the forum. In short you need to create the foreign currencies in settings. Assign these to Bank accounts, Suppliers and Customers. If you have a shares seller (Supplier) that provides shares in both AUD and NZD you need to duplicate that seller and assign the appropriate currency to each.
Hi all
I believe that the question is how does one assign a currency to an investment. Below is the investment creation screen which does not have any field for Cy.
Kindly advise
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An investment does not have a currency associated with it
You purchase the investment using a payment in one ot other currency or indeed, as many currencies as you want.
The investment will be valued in your base currency
@Joe91 You can own assets in foreign currency and issue debt instruments in foreign currency. Keeping such financial instruments in foreign currency and valuing them with prevailing exchange rates would be appropriate.
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A businessâs Balance Sheet is ALWAYS reported in your base currency
So while your investment may be quoted in a foreign currency, for valuation purposes it is always converted to your base currency
The investment âmoduleâ, if thatâs not pushing it a bit, is just a list at the moment with little or no investment management or reporting features
Sure, so this request will be consistent with the way Manager works. You can create customers, Suppliers, Employees and special accounts in foreign currencies, why shouldnât you be able to do the same for investments?
Dealing with foreign investments is tricky business and fluctuations in exchange rates could be the difference between making a gain or a loss on a trade.
I believe that this is a necessary addition.
Added to ideas
There is a price and cost, therefore there should be a currency.
Do we know when will this be added ?
Thank you
Junaid
it is in the #ideas category because it is a good idea but decision of implementation will be taken by the Developer @lubos .
so be patient and wait for @lubos decision @HansieP
thank you @Omnipotent.inc
@lubos - Is there a voting mechanism to determine what features are prioritized ?
The voting mechanism was discontinued.
Even with the voting mechanism, some of the most voted on, never got implemented. Any of the ideas are fine but no guarantee ever that they get implemented, often for good reasons.
The reason voting has been disabled is because number of votes make no impact on when feature will be implemented.
Many topics in ideas category are excellent. But they depend on other ideas which need to be implemented first. These other ideas might have less votes. I do not look at ideas as a flat list that can be sorted by popularity. I see it as a dependency tree. For example the most popular idea could be very hard to implemented at the moment. But would get progressively easier to implement once other 5 related less popular ideas are implemented. The key here is that every topic in ideas category will be addressed as long as I keep pushing the program forward.
This specific idea is one of those that are relatively easy to implement because it doesnât require some lesser idea to be implemented before so this wonât take too long to add.
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Hi Ludos
Thanks for the clarification. I would suggest that any feature that has to deal with capturing monies spent/received/price must have the Currency consideration.
Thank you
Good afternoon. Thank you for the clarification on ideas, scheduling etc. I understand. I can see your logic in so much this is an accounting package in the truest sense. And I have now been able to manage the accounting function of our Family Trust with regard to Equities.
Could I suggest that a couple of bespoke reports using realtime downloads (Yahoo etc) could satisfy many of the underlying requests you have received. In other words the realised/unrealised gains could be used to monitor share performance.
Hi All
and serious appreciation for the investment module.
few notes:
- It would be appreciated to have currency for the market price, using the latest Currency value in setting exchange rates should calculate the correct market valution in the Investment report
- Would it an idea/be possible to have >1 investment page (like having multiple projects) or allow a kind of grouping or âdivisionsâ in the investment module?
further as said before, great software
Paul