Question About Investments

[Mark Phillips]

I have a portfolio that is managed by an outside company. I get a monthly
statement that shows all the changes in the account (cash generated, change
in market value, expenses, etc.). I don't want to track the individual
stocks/bonds/etc., just the net change month to month. Are these the right
accounts and correct transactions?

Assets:My Investments
Income: Change in Market Value

I then increase/decrease the asset value by the appropriate amount from the
monthly statement, and balance that entry with a corresponding entry in the
income account. Is this correct?

Do I need to do something with the initial equity opening balance?

It looks a little funny to see the Change in Market Value on my Income
statement, but I guess it makes sense.

If I get a check from this portfolio, then I would just increase my
checking account by that amount and have a corresponding entry in another
income account, Income from Investments. Is this correct?

Thanks,

Mark