Manual investment transactions

felleray
felleray Member
edited April 19 in Investments

Here are the real life actions I'm trying to input into Simplifi:

I deposit $300 from my bank into the crypto trading company Kraken as USD. I then use those funds to buy $299 worth of a coin called Nano and $1 goes to fees.

Two weeks later, the nano has changed in value to $320. I send $160 to one person and $160 to another.

I can't figure out how to track any of this with a manual investment account.

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Answers

  • Coach Jon
    Coach Jon Moderator admin

    Hello @felleray,

    Thanks for reaching out! For your inquiry, it might be good to know what your ultimate goal is here. Are you looking to use the program to track your crypto-currency, or to include the gains from the crypto as income, etc? Additionally, it might help to understand that there is a difference between investment transactions and the Investment Portfolio. Here is a great article that explains how they work in Quicken Simplifi. https://help.simplifimoney.com/en/articles/6540220-managing-investment-transactions

    Thanks,

    Coach Jon

  • Thank you for the reply!

    So these are donations to charities that I am sending using Nano to avoid credit card fees.

    The goal is to:

    1. See that $300 left my bank account but is still included in my net worth.
    2. Show that $299 of that money went to buying Nano.
    3. Show that at the two week mark, my net worth changed because the asset/investment increased in value.
    4. Show that I sent two $160 assets to other people.

    Mainly, I want to track how much I donate to these charities.

  • Coach Jon
    Coach Jon Moderator admin

    Hello @felleray,

    Thanks for the information. If you want the cryptocurrency included in your Net Worth, I would suggest using the Portfolio Cash Holdings instead of Investment Transactions. I advise creating an expense category to track the money for the charities, or you can use a built-in one. I suggest this because Cash Holdings can be entered without a ticker since Kraken/Nano are not supported currently.

    Additionally, here is a great article about our currently supported cryptocurrency for you to review: https://help.simplifimoney.com/en/articles/7919674-tracking-cryptocurrency-in-quicken-simplifi

    Let us know if that works for you!

    Thanks,

    Coach Jon

  • Thanks for your help. I'm still having trouble understanding how transactions and holdings work together.

    So I make an "Other Investment" account. I do a Payment/Deposit of $300 into that account. Then after two weeks I want to do $320 out of my Quicken to another person. I don't see how to do this without it showing a net amount of -$20 in the Kraken account, even though it should be $0 since the asset increased in value.

  • Ok, I think I understand.

    After some experimenting, it looks like I can do a $300 transaction into the account, then a $320 transaction out of the account, which does show -$20 in net worth.

    But if I then delete my cash holdings, it will adjust to $0. Or if I edit the cash holdings to any number that's what it will use.

    I just have to edit the holdings after the transactions to make it whatever number I want.

    Thanks for the help!

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