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Dividend questions for account that does not separate currencies.
My account (RDSP) does not have a separate USD account category. All holdings are displayed together. For example the price of a USD position is in USD but the purchase and current value price is in CAD. This is why I ended up using this wonderful program.
So I have made two two virtual accounts in PS, one USD the other CAD.
US dividends are paid in CAD. The problem for me is registering them as CAD dividend shows in PS as a new CAD stock. My plan is to account for this in PS by having US dividends registered first in PS as US dollars so that my dividend records are accurate and then withdrawing the equivalent USD at the exchange rate of that day (TD does not show the exchange rate) and then depositing them to my virtual CAD account to keep my balance accurate.
Before I proceed I wanted to see if you had a better solution to this issue and perhaps my two virtual accounts solution. And suggestions for how to determine exchange rate. I assume I just use the CurExch files for this.
Was General the right category for this question?
So I have made two two virtual accounts in PS, one USD the other CAD.
US dividends are paid in CAD. The problem for me is registering them as CAD dividend shows in PS as a new CAD stock. My plan is to account for this in PS by having US dividends registered first in PS as US dollars so that my dividend records are accurate and then withdrawing the equivalent USD at the exchange rate of that day (TD does not show the exchange rate) and then depositing them to my virtual CAD account to keep my balance accurate.
Before I proceed I wanted to see if you had a better solution to this issue and perhaps my two virtual accounts solution. And suggestions for how to determine exchange rate. I assume I just use the CurExch files for this.
Was General the right category for this question?
Comments
Dividends received into account are recorded using account currency. So if you have USD symbol in CAD account, when you enter dividends received, you should enter them using CAD amounts. Did you notice any issues with such entries, if so, could you clarify what issue/bug do you see?