Adding new shares of stocks
Jim Stead
jstead1 at twcny.rr.com
Mon Mar 31 21:29:51 CST 2003
On Sunday 30 March 2003 11:19 pm, Matt wrote:
> Hi all,
>
> I'm new to GnuCash, so maybe I am missing something fundamental to
> the system.
>
> When I try to add shares of stock, and take the cost out of by
> brokerage account, I tell it 50 shares , at a price of $10. this
> should be a net buy of $500. But when I enter the transaction, it
> reveals to me that there where 500 shares at $1 per share. Is this
> a flaw in the system, or am I being an idiot?
>
> I'm using GnuCash 1.8.2 on a RH 8.0 system with Gnome 2 for a
> desktop
>
> Any thoughts would be great.
>
>
> Matt
>
>
>
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I had a similar problem. I don't know if this is your problem, but
...
If I left the commodity for the stock account as USD (US Dollar), when
I tried to buy $500 worth of stock XYZ (50 shares, $10 per share),
GnuCash wouldn't let me. It would keep correcting my transaction to
500 each for $1.
That is because I left the commodity as a Dollars. GnuCash assumed I
wasn't so dumb as to buy a dollar for $10 (Doh!). After all, the
commodity I am buying is dollars, because that is what I left it as.
I needed to edit the account and add the commodity that I am actually
buying (XYZ incorporated, symbol XYZ). I also set Smallest Fraction
to "Use Commodity Value".
Then, as a bonus, you can update prices using Finance:Quote.
Everything worked great after that (well, after I got Finance:Quote
installed)
Jim
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