Chart of Accounts setup: Cashbook provides the capability to maintain an Investments Register to track details of investments - for example, shares, fixed term deposits, unit trust investments, rental property, etc. The Investment Register can be used to maintain details of the purchase of investments as well as the related income and capital gains.
Automatic updating of the Investments Register can occur via cashbook transaction entry. In this way, the investments register can be updated as purchases or sales of investments (or related income & expenses) are entered into cashbook. Alternatively, the investments register can be maintained independently of any other transactions.
Accounts needed when using the Investment Register to track details of share investments:
Step 1 - Setup Asset account - Share Investments
This is so the value of your share portfolio is reflected on your balance sheet as an asset.
Step 2 - Set up an Other Expense Account - Shares Purchased
Step 3 - Set up an Other Income Account - Shares Sold
Step 4 - Set up an Other Income Account - Share Income/Dividends