2017-05-14 GnuCash IRC logs

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04:49:17 <gjanssens> .
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13:10:49 <vantage> Hi, I have an investment account with wealthsimple.com and I'm wondering how best to track it in gnucash. Unlike my index funds which show me how many shares purchased at what value, wealthsimple shows me each stock they've invested in on my behalf. Do I just enter each of these as stocks? How does that take into consideration their fees? Should there be some wealthsimple umbrella created with the stocks underneath?
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14:39:19 <fell> vantage: If I understand https://www.wealthsimple.com/en-ca/details rigth, they are nu fund company but a trader.
14:39:51 <fell> Then you shoud record the ETFs they buy for you.
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15:50:28 <vantage> fell: I have the records of what they've bought for me and create those as stocks (that's how it should be done, right?). The part I'm unclear on is how to account for their fees, since it's taken out of the money invested or dividends.
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15:52:50 <vantage> fell: So I have transactions they've shown me of receiving my deposit, investing in certain items, dividends received, and fees paid to them
15:54:50 <vantage> fell: So in gnucash, I can take the money directly from my bank account and record it to the investments purchased. I could also create an account for wealthsimple (not sure what type), transfer the money there and then transfer from there to the purchases. But in either case, I'm not sure how to record the fees from them.
16:00:03 <fell> I would create under assets->wealthsimple->(bank, share A, Fund B, ...) because there might be a difference in date or you reinvest.
16:01:00 <fell> About the price I would follow their statement. (when do they charge you and for what?)
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17:55:16 <flips> To credit a transaction to AReceivable/Some Customer, I have to enter an invoice? I can't enter it from the main ledger?
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18:20:29 <vantage> fell: In your example, what is "bank"?
18:22:04 <vantage> fell: Unlike an index fund that roles the fees into your buy, they expose the fee as a separate charge, but it doesn't get billed to you separately. It either comes out of dividends or from purchases on your behalf. I'm not sure which they use yet.
18:22:22 <fell> an interim checking account to keep the money before it is spent on your commodities or returned.
18:23:11 <vantage> fell: ah, ok. So a catchall assest for wealthsimple, then a bank account for money I put into it, then transfer from that bank account to the individual purchases?
18:23:28 <fell> yep
18:23:48 <vantage> fell: So then when recording the fee, it would go against the bank account?
18:25:01 <vantage> fell: and to a wealthsimple expense?
18:26:51 <fell> If you know, it is related to a specific fund, you should put it in a txn related to the fund. Then the advanced portrfolio can use it.
18:28:48 <fell> From their site I didn't understand when and at which base they will charge you. (on purchases, yearly at depot value, ...)
18:30:07 <fell> At least their statement should it decribe.
18:31:29 <vantage> fell: I'm not sure either. I currently have the fee listed as an activity for May, but it doesn't say anything else. I get a report at the end of the month that will probably have the details. There were no fees from my first month with them in April.
18:31:50 <vantage> fell: The report just showed the deposit and all the purchases
18:32:05 <vantage> fell: But there were dividends paid as the transaction before it
18:33:44 <fell> Then I would wait for the report.
18:34:22 <vantage> fell: Ok. Think it's safe to setup the account as described in the interim?
18:35:11 <fell> you could temorary put it in expenses:capital gains:wealthsimple
18:35:23 <fell> or similar
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18:37:23 <vantage> fell: Makes sense. I'll give it a go. Thanks!
18:37:37 <fell> Welcome!
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21:18:21 <lmat> @tell gjanssens The first step is to get make check to pass on *master* :-)
21:18:21 <gncbot> lmat: The operation succeeded.
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