I haven’t posted for a while because Manager just keeps working so well for me.
I’ve posted questions similar to this one. The difference is this post centers on the “Inventory Locations” feature in the Setup tab. I’m thinking, “Should I be using this feature?” Of course, your advice would depend on my context.
All this is in my personal accounting books. This question does not arise in my business books because the corporation has only one account.
I am tracking two Investment Retirement Accounts that happen to be at the same brokerage, but consider that they could be at different brokerages if that makes any difference.
Then I have a personal account and may have another account. The same stocks may be in more than one account.
I am thinking that if I use Inventory Locations, then I only need to enter the stock data once for a particular stock. But then my stock entries might be slightly more complicated in that (I expect) I will have to enter one additional field.
Or I could opt not to use Inventory Locations. Then, I would need to enter the inventory stock information in the separate inventory accounts for each brokerage account.
So, I likely don’t have my pros and cons straight since I have not used Inventory Locations. What I am seeking is advice whether you think I would find it easier or harder to track using Inventory Locations. Would I be able to keep the inventories of stock separate in financial reports?
Maybe having different brokerage accounts which may have some stocks in common is analogous to having multiple warehouses? Or not?