Closed brokerage accounts still being used

[Thomas Baumgart]

Timothy,

On Donnerstag, 7. April 2022 17:37:33 CEST Jack via KMyMoney wrote:

> On 2022.04.07 03:22, timothyp wrote:
> > On 2022/04/06 16:12, Jack via KMyMoney wrote:
> >> On 4/6/22 04:09, timothyp via KMyMoney wrote:
> >>> 
> >>> I have closed all individual brokerage accounts and created one  
> >>> General Brokerage
> >>> account for all share transactions. Since these transactions are  
> >>> transparent to me.
> >>> I give my Investment Company instructions to buy, sell or switch  
> >>> shares and tell them
> >>> what account (normally my cheque account) to withdraw or deposit  
> >>> monies into.
> >>> 
> >>> However when I download the statements from the investment company,  
> >>> KMM
> >>> automatically uses the brokerage account for that share account.
> >>> 
> >>> This is to me strange since the brokerage accounts are closed and  
> >>> and manual
> >>> transactions are not possible. Indeed to rectify the situation I  
> >>> have to reopen the
> >>> brokerage account , move the transaction to the general brokerage  
> >>> account and close
> >>> the account again.
> >>> 
> >>> Is there some way I can nominate a brokerage/cheque account for  
> >>> money transactions,
> >>> either by a QIF option or a KMM setting?  I really do not want  
> >>> those extra 12 brokerage
> >>> accounts, so if someone has a similar situation and there is  
> >>> already a solution that I am
> >>> missing, I would appreciate your assistance.
> >>> 
> >>> Thank you
> >>> Timothy
> >> 
> >> Unfortunately, this is not currently possible.  KMM only recognizes  
> >> a brokerage account with the same name as the investment account  
> >> with " (Brokerage)" appended.  There is an open wishlist for KMM to  
> >> remember any specified account for that purpose.  Unfortunately,  
> >> certain actions (such as QIF or OFX import) will put transactions  
> >> into a closed account (not just brokerage account, but also specific  
> >> stock account, such as for dividends).  I'm not sure what will  
> >> happen if those brokerage accounts don't exist at import time -  
> >> hopefully it will ask what account to use..  The downloads do not  
> >> specify the brokerage account - most investment firms consider the  
> >> stocks and cash to be in the same account.  If you can't simply  
> >> delete those accounts, try renaming them so KMM won't automatically  
> >> recognize them as the appropriate brokerage account.
> >> 
> >> Jack
> >> 
> > The delete option on the brokerage account is greyed out, so I  
> > renamed it as you suggested. The QIF import buy goes ahead without  
> > any warning or asking for an account to get the money from. The  
> > ledger then shows the transaction with correct share quantity, price  
> > and updated share balance. However the value of the transaction is  
> > shown as zero. No new brokerage or dummy account is created and the  
> > money for the shares is not deducted as obviously no reference  
> > account is provided. So unfortunately this is not a feasible  
> > work-around. I would certainly like to add my name to that wishlist  
> > to either block a closed account completely and ask for an  
> > alternative account and similarly if the brokerage account does not  
> > exist do the same. When one creates a new investment account there is  
> > an option to create a brokerage account as well. So this makes it  
> > possible for errors to occur from get-go. Could this qualify as a bug  
> > perhaps?
> > 
> > Timohy
> First, you can't delete those accounts because they still have  
> transactions in them.
> 
> I won't have time to test carefully until next week, but please confirm  
> that the actual amount of the transaction is really 0, or if is it just  
> waiting for you to specify a brokerage account?  I don't believe that  
> KMM will not ever just create a new account by itself.  Again, just  
> edit the transaction and see what happens if you add a brokerage  
> account (not a new account, just point to where you want the money to  
> come from.)  If that does work, then it might be worth opening a  
> wishlist for it to prompt for a "missing" brokerage account, although  
> perhaps it could just be added to  
> https://bugs.kde.org/show_bug.cgi?id=329701 which is the wishlist I  
> mentioned earlier for allowing brokerage accounts with names different  
> from the standard/default.

It would tremendously help if you could provide a sample kmy and qif file
which we can use to reproduce the problem. 

-- 

Regards

Thomas Baumgart

https://www.signal.org/       Signal, the better WhatsApp
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