Automate purchase/sales in the cash account

I have set up the cash account in Navexa to keep track of my brokerage account. When I buy shares money comes out of this account automatically. Similarly when selling shares money is deposited. If I have cash dividends cash is deposited there. I was thinking when entering a purchase or sale of a stock it would be good to have a tick box to automate a transaction into the equivalent cash account for the portfolio. That saves us having to enter them manually. Similar option for dividends paid in cash with a tick box to auto create the transaction on the deposit date.

Hey @Iccoffe, thanks for this suggestion!

Improving the cash account functionality is already on our radar. We have a project on the horizon which will potentially address all the points you make. It’s not going to be in the near future, but we are working on it!

Thanks again — and keep the good ideas coming.

Could it include interest from the cash? It would allow me to see overall performance.

+1 on the automation of cash account transactions when trades happen. This would be a good feature and I would then use the cash account holding type.

It would also be great to be able to manage multiple cash accounts separately as I have several cash accounts, each linked to a specific broker/market. Being able to keep track of transfers between accounts would also be great.

For instance, within the same portfolio, I have a CBA account with Commsec and an ANZ account with Selfwealth and sometimes transfer money between the two.

This is something that Sharesight can do, although in a rather clunky way. Can I hope for something better from navexa?

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Hey @olaf we have something in the works :wink:

Just wanted to bump this one back to the top.

We have been building this feature over the last 2 weeks and it is nearly ready to go. Once it is released you’ll be able to nominate a cash account for all buys and sells to be populated.

You’ll also be able to nominate an account for all dividend payouts also.

Feel free to put any feedback around this or ideas for this feature, in this thread.

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Hi @Navarre,

This also raises the issue of currency, non-share transactions and reporting among others…

If you have shares in AUD and NYSE for example it would be handy of you could put AUD in the AUD Account and USD in USD account.

Some people will only want to have the one account in base currency and if that’s the case you’ll have to manage an exchange value on the day. Most people will find this easier if you specify either a rate if that is available or more likely the amount (so you can have the rate calculated)

If you are having a bank account apart from the share transactions buy/sell/dividends etc you probably want 3 other types … Interest (because the component is taxable you would want to track it) and Misc inflow/Misc Outflow.

Anything you put on Misc inflow/outflow it would be handy if you could store the document the transaction related to. You have the option to store the document for share transactions within the existing product.

Within Misc Inflow/Outflow you probably want to break it down at a minimum of deductible or non-deductible. A way of doing this break down maybe to actually have a side table where you could define a tag to the transaction… I’d suggest you enable tags to be user definable but you only want a tag relating to one item… You may have to if you want to have some way of splitting a transaction in which case you might just consider doing this by having a percentage and a tag… You could have Navexa for example have Dividend etc as a tag that you put on dividends, Sales or purchases etc but in particular you could then have your own definitions to track what ever you want…

At this point you need to make a decision if the tags should be related the portfolio or the client … so that at the client level if you run multiple portfolios then you can define them once and get the same layout for reporting … I would think this level would be more appreciated by the accountants because you get the same look and feel… In the Pro version you need to work out if like consolidated portfolios you can share them or not?

At some points you need a process to verify the balance of the cash account in Navexa with the statement at the bank… in Bookkeeping terms this is bank reconciliation and its done from period to period… At this level you need to somehow mark the transactions as “reconciled” and within the period report on those that you have recorded that are “unreconciled” and review they are still valid… Else you have to be able to delete them or correct them,

A Bank account can give you a statement of cashflows but its can’t give you a profit or loss because there are non-cash items on profit and loss or it becomes a timing issue … like when you get a distribution from a trust in Aug but relates to the year end June year … or you are recording a tax payment in Feb that relates to the Dec Qtr…

Yes… I did run a bookkeeping company for over 10 years…

Hope that helps … Its a little more complex but it depends on what you want to report on and how much verification you need to do that you have it correct… Cheers Mike

Hi all, we have just released our first version of our cash account automation. You can read more about it here: Cash Account Automation

We’d love to get your feedback on it and we will continue to add to it over the coming weeks.