Investment Question

[Jay Ridgley]

Thanks David,

Perhaps, I can clarify. The answer to your question is yes. The reason 
for the new name is that currently the accounts are defined as place 
holders, they would have to be regular accounts, would they not?

Regards,
Jay

On 01/12/2018 11:13 AM, David Carlson wrote:
> I am not an accountant either, and I do not quite understand your question.
> 
> Do you already track your investments in detail in GnuCash and you want 
> to stop tracking details, just track overall values with periodic 
> (manual) value updates after monthly reports?  That is the only scenario 
> where I would suggest "selling" securities in your data file.  I do not 
> think that you need to delete brokerage or custodial accounts and 
> replace them with accounts of a different type. Brokerage accounts are 
> already asset accounts, just under a different top account name.
> 
> I think that would work.
> 
> David C
> 
> On Fri, Jan 12, 2018 at 9:15 AM, Jay Ridgley <jridgley2 at austin.rr.com 
> <mailto:jridgley2 at austin.rr.com>> wrote:
> 
>     Good Morning,
> 
>     I AM NOT AN ACCOUNTANT
> 
>     I have decided that I want to track my investments in USD and let my
>     brokerage take care of the details of my holdings.
> 
>     How would be the best way to make the conversion in GnuCash? Just
>     "sell" all my holdings and put the funds in opening balances then
>     adjust the amounts in the accounts by transferring funds from
>     opening balances after changing the account type to asset or would
>     it be better to delete the current investment accounts and start
>     over using a new set of names. I favor the former.
> 
>     This is a sample of what I am dealing with:
> 
>     IRA
>     IRA:Cash
>     IRA:Stocks
>     several IRA:Stocks:Symbol
>     IRA:Funds
>     several IRA:Funds:Symbol
>     IRA:Bonds
>     several IRA:Bonds:Symbol
> 
>     The result would be the same except the several X:X:Symbol accounts
>     would go away. I would update the remaining accounts each month when
>     I receive my statement form my broker by debit or credit to the
>     account and the other side credit or debit to unrealized gains and
>     loses. If I sell or buy the other side would be Cash
> 
>     Will that cause problems with the way GnuCash works? Is there a
>     better way?
> 
>     Cheers,
>     Jay
>     -- 
>     Jay Ridgley
>     jridgley2 at austin.rr.com <http://austin.rr.com>
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-- 
Jay Ridgley
jridgley2 at austin.rr.com
Registered Linux User ID - 9115
https://linuxcounter.net/cert/9115.png
Registered Ubuntu User ID - 23320