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Author
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Topic: prior year transaction in current year report
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FNuser175
Member
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posted 01-28-2008 09:08 AM
 
In Nov, 07 we sold a secrurity and was reported correctly on the reports. In Dec 07 there is a small dollar amount showing up for this asset. The Transaction by Account report lists three UGL transactions from Dec 06 and the balance that is showing up on the reports. How do I fix this?
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David
Administrator
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posted 01-28-2008 11:28 AM
There should not be any Unrealized Gain or Loss transactions for that account in December since it was sold in November. Probably what happened was something like this:- Update all security prices for three dates in December. This creates three UGL entries for the security, since Navigator thinks you still held it in December.
- Enter November security sale. Navigator:
- Makes an UGL entry that equals the difference between the security’s cost basis and the November balance.
- Zeros the November balance.
- Zeros number of shares.
- Changes the Format Type to Sold.
You can see that this zeros everything for November but leaves the December change in value in both the UGL account and the security’s balance. You can fix this either of two ways:- Delete the December UGL transactions for the security. This is the preferred method.
–or – - Update prices for December again. This will add another entry to UGL to bring the security balance to zero since there are 0 shares. This method works best when there is a partial sale (which is not what we are talking about in this example).
To avoid all these problems, do not update prices for December until all November transactions are entered and the reconciled to the broker statement.If you have already started the new year, Update Starting Balances in the new year to bring the changes forward. - David
FNI Technical Support
Case #38-10529
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