Equity:Opening Balances displays number of stocks rather than monetary value

[Derek Atkins]

Hi,

Shane Drower-Copley <bluekable at gmail.com> writes:

> Hi,
>
> I have added an opening amount of stock and transferred it to
> Equity:Opening Balances. When I go to the Opening Balances account
> however I find that the transaction is recorded using the number of
> shares rather than the monetary value that they are worth.
>
> Also, the only place I find the actual monetary value of the stock I
> own, is under the accounts tab (if I enable the "Total(ZAR)" option
> from the drop down arrow that determines what headings will be
> displayed). I do not find any record of the monetary value in my
> "Brockerage Account:Stock:Satrix stock" account. In this account, I
> have 70 shares but the price is 1 so the balance is simply 70. I have
> however set the price of these stocks with the price editor and it
> does seem to display the correct monetary value in my "Brokerage
> Account" and "Brokerage Account:stock" Totals.
>
> It seems the values displayed in the various totals of the accounts
> tab are correct (except for the equity opening balances account) but
> the values recoded in the actual transaction (The transaction between
> "Satrix Stock" and "Opening Balances") do not display the correct
> price and as such do not record the monetary value under balance.

A few things to look at:

1) Check the account type of the Stock Account, and make sure it's of
   type Stock or Mutual.  Right-click on the account name and choose
   Edit Account.

2) Check the Security of the Stock Account from the same "Edit Account"
   dialog.  There is a longstanding bug that if you create a
   Stock/Mutual account through the New Account Hierarchy it doesn't
   enforce that you assign a proper security.  Most likely you still
   have the security set at ZAR.  If the price is always being set back
   to 1 then this is most likely the issue.  To fix this you should
   create a security and assign it to the account.

3) You have a bogus PriceDB entry.  This is unlikely if your reports
   show correct.

> Any help would be appreciated
> Shane

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available