Blog

Improved portfolio trading cash account tracking

by Prashant Mohan, Chief Marketing Officer, Sharesight

Tracking trading cash accounts in Sharesight portfolios has been a highly demanded feature. We released phase 1 of our Cash Account feature in February 2018, and have just released a major update that automates much of the previously manual data entry required to record your cash transactions.

As part of this update, you can now elect to have one of your manual Cash Accounts be your nominated trading Cash Account (as long as the Cash Account currency matches your portfolio currency).

How to set up a Cash Account

To get started, simply click ‘Add Cash Account’ on the Portfolio Overview page. From there you can specify the name and currency of the Cash Account which will be tied to the portfolio (including its tax residency).

Add Cash Trading Account

After you have added transactions to the account, the balance of the Cash Account will appear at a glance on the Portfolio Overview page.

Tracking trading cash acounts shares

With Sharesight’s new and improved Cash Account feature, you can now elect to have one of your manual Cash Accounts linked to your portfolio as a trading Cash Account (as long as the Cash Account currency matches your portfolio currency).

Once you enable this feature, all future trades in the linked portfolio will create a corresponding deposit or withdrawal in your nominated Cash Account. You can select your trading cash account in your portfolio settings:

Trading cash account

Syncing historical transact to your Cash Account

After you have linked your Cash Account to a portfolio you can then sync historical transactions from your portfolio automatically by clicking on ‘Manage Synced Trades’ when viewing your Cash Account. You can then choose the date to sync trades from automatically.

For example, by selecting a date of 01/12/2016, you can get all transactions after that date to sync with the Cash Account then clicking “Sync all trades”.

Sync cash account

You can expect to view the cash records in the nominated Cash Account as below:

Cash account transaction history

Cash Account notes

The value of your Cash Account is included when calculating your portfolio’s value, but does not impact the percentage return figure.

You can only use this feature with Sharesight’s built-in Cash Account feature. Due to the way Xero connected cash accounts and Macquarie cash accounts push data into Sharesight automatically, these accounts sync automatically already.

At the moment, Sharesight’s Cash Account feature automatically records buys and sell transactions to your Cash Account. Dividend syncing is not yet available.

Clicking on a Cash Account transaction that has been created from a synced trade will bring up the trade “edit” form. Cash Account transactions will update automatically when the trade is edited. As these transactions are linked, it is not possible to edit the cash transaction separately from the underlying trade.

Upgrade today to track your cash

Sharesight’s Cash Accounts are a premium feature available only on Sharesight Investor and Expert plans. Upgrade your Sharesight plan to add a Cash Account to your portfolio and get the full picture of your investment portfolio today.

Everything you need to know about Sharesight Cash Accounts

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