Gold Sovereigns - Asset or Investment?

[Rupert]

Can they be recorded in the same way Shares are so value can be tracked over time?

[ideasguy]

I think they could Keith. Here's my suggestion.
In the Bank Genie Pro 6 Investments program, add a new account. Do NOT link it to a Cash account.
Then add a new Investment called Gold Sovereigns.
Add a BUY transaction to that account and that Investment to indicate Quantity= how many sovereigns you have and the  purchase amount per unit.
To update the unit value, Select the Account and the Investment in screen BS431S01 and click the Edit button.
Takes you to screen BS431S03.
Click the Manually Add button to add the latest price.

You will see the value of the Sovereigns when you click Account Summary, in Net Worth program and also in the Home screen.

Does that work for you?

[Rupert]

Thanks George, yes I got there with this method.

[ideasguy]

Excellent!
Are you OK with updating the price manually?

[Rupert]

Yes fine with manual price updating but do have a couple of questions -

1.  I cannot get the account to display in Investments section in My Account Groups on the Home page, though it does show in All Account Groups on there.  It does not show in Set Up/ Bank Account Groups/Listing of My Account Groups at all so that I can move it across into the Investments group.

2.  Where it does show in All Account Groups it is only showing the Gain Value rather than the Market Value.

[ideasguy]

Hi Keith

Re 1. below.
Account Groups are mainly for making it easy to select and analyse a group of accounts in the Transaction Analyser program.
You cant analyse Investments in Transaction Analyser.
Thus, in my wisdom, I have made it that you cant add Accounts to account groups in the program Account Groups-BS415.

I can now see that you wish to isolate Investment accounts in the home screen.
I'd like to put this to you and other users - do you need to create Account groups for Investments?
If I do this, I would have to prevent users from mixing Investment accounts and Regular accounts inside an Account Group.

RE: 2
Bank Genie Pro calculates the value of the investment account based on the number of shares and the latest price you have on record.
e.g. If you have manually entered a value today, it will calculate based on that.
If you haven't entered any prices, the program uses the price of the most recent Investment Transaction.

Rather than clutter up this topic I'll give you a call to discuss.

[Rupert]

Thank you for this explanation George.  On reflection I am overcomplicating things again between the Home Page Account Types and My Account Groups.  Happy to leave as is.