Please ignore the above issue that I am having. It is something to do with the method of using transferin/out. Could do with you input on how to correctly enter "in situ" stock transfers from one account to another.
I am transfering 375 units of VEVE.L from ACCOUNT-A to ACCOUNT-B. Both accounts are non-taxable and in this scenario, I transfered the above EFT without selling it first, therefore it got transfered at the market price which in my case is higher then the buy price in ACCOUNT-A.
Could do with your input on how to correctly enter the above transaction in terms do I enter as SELL in ACCOUNT-A and in TransubType I enter "TransferoutSymbols" and enter the qty and the price at which it was transfered to Account-B. Then add a second entry for ACCOUNT-B as a BUY and "TransferinSymbol" and the qty and price?
We have TransType "SymbolTransferOut" and "SymbolTransferIn" For Account-A you do SymbolTransferOut with price at the day of the transfer. For Account-B you do SymbolTransferIn with price at the day of the transfer and CostBasisOverride to specify initial accurate Cost Basis when stock was bought in Account-A.
Tried doing the above but I think it is not working in my scenario. The only option i have for "TransType" is Buy/Sell but when I use this, it correctly transfers the holdings from account A to B.
However, because I am using Buy/Sell, the proceeds of the sale in a/c A are added to the cash balance and in a/c B the purchase is subtracted from from its cash balance as opposed to deducting from a/c A and adding the total sum of the transfer in a/c B.
Am I doing something wrong here or the "SymbolTransferOut" and "SymbolTransferIn" is mainly to cater for capital gains as opposed to transfering holdings from one a/c to another without selling?
I resorted to making 4 entries like below for each ETF and that solved my issue.
Sell the ETF in A Withdraw cash from A Deposit cash into B Buy the ETF for the same price
I am glad it works for you with Sell/Withdraw/Deposit/Buy transactions. But should be able to make it with SymbolTransferOut and SymbolTransferIn transaction types. These types are available - you should try. Why are you saying that in TransType you do not have SymbolTransferOut type?
In Source workbook there is TransType worksheet that contains all TransType available. It appears that you are showing Transactions worksheet TransType drop down list. That just shows list of TransType you used so far in the current selection for example you can filter single Symbol and that list might get smaller. So yes, you can use TransType as SymbolTransferOut and SymbolTransferIn.
Thank you so much for highlighting this. I was entering under the TransSubType.
I changed the entries as above, but the ETF's do not get transfered from the account. Is there another transaction type that I need to enter in order to transfer to the other account. What am I doing wrong?
Comments
If I recall when I checked all the cells were blank but I will keep and eye out the next time it happens.
= IF(ISNA(VLOOKUP([@SymbolName], SymbolAlias[#All],2,FALSE)), [@SymbolName], VLOOKUP([@SymbolName], SymbolAlias[#All],2,FALSE) )
I am transfering 375 units of VEVE.L from ACCOUNT-A to ACCOUNT-B. Both accounts are non-taxable and in this scenario, I transfered the above EFT without selling it first, therefore it got transfered at the market price which in my case is higher then the buy price in ACCOUNT-A.
Could do with your input on how to correctly enter the above transaction in terms do I enter as SELL in ACCOUNT-A and in TransubType I enter "TransferoutSymbols" and enter the qty and the price at which it was transfered to Account-B. Then add a second entry for ACCOUNT-B as a BUY and "TransferinSymbol" and the qty and price?
For Account-A you do SymbolTransferOut with price at the day of the transfer.
For Account-B you do SymbolTransferIn with price at the day of the transfer and CostBasisOverride to specify initial accurate Cost Basis when stock was bought in Account-A.
Tried doing the above but I think it is not working in my scenario. The only option i have for "TransType" is Buy/Sell but when I use this, it correctly transfers the holdings from account A to B.
However, because I am using Buy/Sell, the proceeds of the sale in a/c A are added to the cash balance and in a/c B the purchase is subtracted from from its cash balance as opposed to deducting from a/c A and adding the total sum of the transfer in a/c B.
Am I doing something wrong here or the "SymbolTransferOut" and "SymbolTransferIn" is mainly to cater for capital gains as opposed to transfering holdings from one a/c to another without selling?
I resorted to making 4 entries like below for each ETF and that solved my issue.
Sell the ETF in A
Withdraw cash from A
Deposit cash into B
Buy the ETF for the same price
But should be able to make it with SymbolTransferOut and SymbolTransferIn transaction types. These types are available - you should try. Why are you saying that in TransType you do not have SymbolTransferOut type?
I tried another method by adding a Withdraw and Deposit and that did the trick.
6 entries better then 8
It appears that you are showing Transactions worksheet TransType drop down list. That just shows list of TransType you used so far in the current selection for example you can filter single Symbol and that list might get smaller.
So yes, you can use TransType as SymbolTransferOut and SymbolTransferIn.
I changed the entries as above, but the ETF's do not get transfered from the account. Is there another transaction type that I need to enter in order to transfer to the other account. What am I doing wrong?
Thank you for your patience.