Post Cash Transfer to a Stock Broker Investment type Account

General discussion on all other topics under the sun.

Moderator: Renato

Post Reply
teldev
New MMEX User
Posts: 1
Joined: Wed Nov 07, 2018 10:56 am
Are you a spam bot?: No

Post Cash Transfer to a Stock Broker Investment type Account

Post by teldev »

I'm new to MMEX and I am just trying to understand how to make a cash transfer from a current (checking) account to a Stock Portfolio (Stock Broker) Investment type account. I then want to use that cash to buy various Stocks (Funds). When I try to do a transfer the Investment type stock broker account does not show on the list of available transfer accounts.

Can anyone help me on how I should do this?
Mik
New MMEX User
Posts: 7
Joined: Fri Oct 22, 2021 2:32 am
Are you a spam bot?: No

Re: Post Cash Transfer to a Stock Broker Investment type Account

Post by Mik »

I seen the same question here
viewtopic.php?p=20422#p20422
hopefully someone will be able to clarify
Mik
New MMEX User
Posts: 7
Joined: Fri Oct 22, 2021 2:32 am
Are you a spam bot?: No

Re: Post Cash Transfer to a Stock Broker Investment type Account

Post by Mik »

You can create a Term Account for each broker.
The problem with this approach is that every single transaction need to be key in twice.
I.E.
You get $50 dividend, you need to
  • record the $50 dividend in the share account
  • record a $50 transfer from the share account to the term account
that for every single transaction. Buy, sell or dividend.
Post Reply