How can I input funds management fee in Money 2004

Frog · Joined: 25 Feb 2008 Posts: 2

Hi, I am using Money 2004 and I have a problem to inputting a funds
management fee to my portfilio. This managed fund charges Management fee
monthly and deduct my fund unit to fulfill it. I think I can only input this
transaction as a "remove shares" activity. But if I do this, the avg. cost
will be wrong and also I can't tracking how much I pay for them. Is there
any way to archieve this goal?

Thanks

Archived from group: microsoft>public>money

Cal Learner-- MVP · Joined: 02 Aug 2007 Posts: 4135

In microsoft.public.money, Frog wrote:

>Hi, I am using Money 2004 and I have a problem to inputting a funds
>management fee to my portfilio. This managed fund charges Management fee
>monthly and deduct my fund unit to fulfill it. I think I can only input this
>transaction as a "remove shares" activity. But if I do this, the avg. cost
>will be wrong and also I can't tracking how much I pay for them. Is there
>any way to archieve this goal?

To match what is happening, you could enter an OtherExpense
transaction for the fund and also a Sell transaction to raise the
funds to buy to pay the fee.

>
>Thanks
>

Steve · Joined: 22 Aug 2007 Posts: 102

"Frog" wrote on 24 Feb 2008 in group
microsoft.public.money:

> Hi, I am using Money 2004 and I have a problem to inputting a funds
> management fee to my portfilio. This managed fund charges Management
> fee monthly and deduct my fund unit to fulfill it. I think I can only
> input this transaction as a "remove shares" activity. But if I do
> this, the avg. cost will be wrong and also I can't tracking how much
> I pay for them. Is there any way to archieve this goal?

I do this as a sell, with the proceeds going to the associated cash
account. Then I record the management fee in the cash account.

--
Steve B.
New Life Home Improvement

Cal Learner-- MVP · Joined: 02 Aug 2007 Posts: 4135

In microsoft.public.money, Steve wrote:

>"Frog" wrote on 24 Feb 2008 in group
>microsoft.public.money:
>
>> Hi, I am using Money 2004 and I have a problem to inputting a funds
>> management fee to my portfilio. This managed fund charges Management
>> fee monthly and deduct my fund unit to fulfill it. I think I can only
>> input this transaction as a "remove shares" activity. But if I do
>> this, the avg. cost will be wrong and also I can't tracking how much
>> I pay for them. Is there any way to archieve this goal?
>
>I do this as a sell, with the proceeds going to the associated cash
>account. Then I record the management fee in the cash account.

The difference in making it an Other expense in the Investment
Transactions register vs the Cash register is whether the expense is
considered in computing the performance of the investment.

Steve · Joined: 22 Aug 2007 Posts: 102

Cal Learner-- MVP wrote on 24 Feb 2008 in
group microsoft.public.money:

> In microsoft.public.money, Steve wrote:
>
>>"Frog" wrote on 24 Feb 2008 in group
>>microsoft.public.money:
>>
>>> Hi, I am using Money 2004 and I have a problem to inputting a funds
>>> management fee to my portfilio. This managed fund charges
>>> Management fee monthly and deduct my fund unit to fulfill it. I
>>> think I can only input this transaction as a "remove shares"
>>> activity. But if I do this, the avg. cost will be wrong and also I
>>> can't tracking how much I pay for them. Is there any way to
>>> archieve this goal?
>>
>>I do this as a sell, with the proceeds going to the associated cash
>>account. Then I record the management fee in the cash account.
>
> The difference in making it an Other expense in the Investment
> Transactions register vs the Cash register is whether the expense is
> considered in computing the performance of the investment.

Hmmmm -- I didn't know that.

Now I have to decide whether I want to evaluate performance of the
security by itself (keep the transaction on the cash side), or evaluate
performance less expenses. Decisions, decisions ...

--
Steve B.
New Life Home Improvement

Frog · Joined: 25 Feb 2008 Posts: 2

Firstly, Thanks for your help.

My case is a little bit complicated. Actually I have decide to suscribe a
saving plan ten months ago. The Plan need to pay monthly installment for a
couple year. The amount was 480.02 per month. The Plan itself has a
management charge per every 1st of the month by deducting certain amount of
the fund units. Also it has a first year bonus which was 36 per month. The
situation shown as below example

1 Feb 2008 Management Charge -0.699 unit $12.52
< This line I enter as activity "Sell" and I fill the comm. feild with the
same amount
12.52. So the total amount is 0
3 Feb 2008 First Year Bonus $36.00
< This line I enter as activity "Other Income" and bounced to a income cat.
3 Feb 2008 10th Installment 28.727 unit $516.02 (480.02 +
36.00) < This line I enter as activity "Buy".

are these allright?

In my custom view of portfolio.
The Qty using this method absolutely no problem. But the Cost Basis have
problem. It will not count my sold unit of the fund but I think it acutally
I pay for it. So Which field can I see I pay for? I have pay 10 times so
totally I pay $4800.2 for it. Thanks anyone can help me.

Money 2007 payee name management What is the best way to handle payee names and their variations? For example, I charge all of my gasoline purchases and typically fill- up at Raceway gas stations. After downloading the transactions each Raceway gas station appears with its own payee nam

GST input Im been using Money 2000 (shame on me for not updating) for a few years and as ive recently become GST registered I now have to input GST amounts, both on invoices I send out for work done and bills paid such as petrol, stationary etc. Ive worked out how

Problems with Charge input I seem to have gained an extra line in the charge input panel for "Job expenses" just below the usual "Category" line. Does anyone know how I got it there and how I can remove it again?

How to input a savings account with an employer, that is not I am running Monet Delouxe 2006 on my pc with XP with SP2. I am trying to include a thrift fund I had with an prior employer with other of my accounts. Anybody know how to do this, or have run into a similar situation?

How should i input installments of credit card payments? Hi, I have bought something with my credit card in 24 installments (interest free), the total sum is $1200 and i would pay $50 each month, how should i input these data in Money? Thanks!