As far as I can tell, I can’t use tracking codes to track transactions on the balance sheet side of things. Is there either a way to do this that I’m missing, or a possibility of it being introduced in the future?
Basically what I want to use it for:
I do the books for a few investment portfolios, all of which sell options for income. What I do is track the income & taxes received/paid on each share held - dividends, collection fees,and option premium. However, when option premium is received, it goes under deferred option premium, as a liability, rather than going on the income statement for now. This creates the problem of complicating the tracking of cash flows per share - which would be solved if I could do a balance sheet report with tracking codes.
Also, seeing as its related, is there a quick way to generate a report with all tracking codes, and the same dates, rather than adding each one at a time? I probably use close to 90 tracking codes which was a hassle to set up.
I know they’re only for income/expenses, I was hoping that they could eventually be updated to be used on BS? Would be very helpful for tracking deferred income by asset.
As for the report, for now I was just referencing a standard P&L report. It just takes ages to do that first setup of adding 40 different tracking codes, plus having to do the start/end dates for each individually. (Which obviously you can just use copy/paste, not the end of the world)
Apologies, I wasn’t clear - I view all the tracking codes on a single report, not the sum of all the tracking codes. I do this to export to excel so I can automate the total yield calculations.
As a workaround, in lieu of tracking code, you could create each option premium received as an inventory item. Rename Inventory on hand account as Deferred Option Premium and re-assign it as a BS Liability account