[GNC] Transferring mutual funds

AC gnucash at acarver.net
Tue Jul 4 19:29:09 EDT 2023


I recently moved some mutual funds from one brokerage to another. The 
process did not involve a sale, it was just a transfer of control from 
the old to the new.

In my current books I keep mutual funds listed as subaccount under each 
brokerage as such with their respective security/currency:

Investments
-Brokerage 1 (currency)
--Fund A (security A)
--Fund B (security B)
-Brokerage 2 (currency)
--Fund A (security A)
--Fund C (security C)
--Fund D (security D)

I wanted to expand this to add the new brokerage and then perform a 
transfer of the funds from one to the other. Let's assume I moved the 
funds under Brokerage 1 to Brokerage 3. So the tree would look like the 
simplified version below (leaving out Brokerage 2 as it is unaffected):

Investments
-Brokerage 1 (currency)
--Fund A (security A)
--Fund B (security B)
-Brokerage 3 (currency)
--Fund A (security A)
--Fund B (security B)

The securities are the same because it's the same original mutual funds, 
just moved to another brokerage. The tree would be left intact with the 
funds under Brokerage 1 being zeroed out and the funds under Brokerage 3 
starting off with the incoming values.

My natural tendency was to create a transfer directly within Brokerage 1 
Fund A that moved all the shares over to Brokerage 3 Fund A but that 
didn't create the transaction I expected.

By example, I transferred Fund A on July 1 which contained 10 shares at 
the price of the shares on that day. So in Brokerage 1 I entered -10 
shares with a total sell price of X as listed on the statement from 
Brokerage 1. The price is autocalculated and the balance correctly goes 
to zero.

Looking inside the Brokerage 3 Fund A account I only see a transaction 
that has an amount in the buy column but no shares and a balance of 
zero. I can manually enter the same number of shares in that partially 
empty transaction but why was my thought about the transfer incorrect? 
Should it have not transferred those shares over as well?


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