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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> gnucash-user at lists.gnucash.org
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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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