Tracking cash balances / Double-entry bookkeeping

Roadmap Now
1

App should automatically track cash balances for selected accounts. This is known as double-entry bookkeeping.

This means that:

  1. Whenever you add a transaction where you Buy, Sell, pay fees or taxes, a Transfer transaction is added for Cash asset with a proper currency on the same Account

  2. For each account you can choose if you want to track cash and from which account it should be taken from (eg. to pay your broker from your bank).

  3. This means it now makes sense to import deposits and withdrawals on broker accounts

  4. This also enables us to add a Conversion transaction, where you exchange one asset for the other while forwarding the cost-basis. That would create two opposite Transfer transactions that are linked together.

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2

Any idea when this would be implemented and ready? It is a must-have for me to use the software. Otherwise, there is no proper way to reconcile and ensure all transactions are coded correctly.

3

It will be the first to implement after everything in Next is done, which may take 2-3 months.

As for reconciling, I just import from the brokers and verify the final balances on all assets.

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4

IMHO Dividend transactions should also be modelled as a transfer into the Cash asset, at least optionally.

5

All transactions will have their “other side”, so Dividends as well.

If a transaction was paid in USD and the fee is in EUR, that would create two transactions.

I’ve finished onboarding and stabilizing the platform. I’m now adding additional integration tests to make sure nothing gets broken with these fundamental changes and will be starting the work on cash tracking once I have these.

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6

Hi @rafal, is this yet implemented?? Thanks!

7

It’s now being implemented. It requires quite a lot internal changes to make it work efficiently

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