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Messages - Raymundo

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General Discussion / New User Observations
« on: July 30, 2015, 04:14:38 PM »
After three days of using the Demo version of the software, I want to share my enthusiasm for how "usable" and capable the software is for this non-accountant.

I have successfully loaded 25 accounts, called portfolios, and can see this may be the perfect software for managing financial assets spread across several different brokerage companies. Since I have tried to do this with several different software packages with tons of frustration, this post is to share my lessons learned with other new/prospective users.

By creating, naming, logging on for current positions, I was able to get up and running quickly.  During this process, I usually made the sweep account.  When skipped, it was very easy to go back and add.

A default basis amount is created at current value when downloading with this selection.  This is easily changed by going back and entering purchase info and dividends. Most brokerages have purchase info labeled "lot details".

The performance information is impressive.  You can also select the yield calculation to be "yield on acquisition cost" which I like very much.

The software has a "library" of position information that is very powerful.  When a brokerage firm labels an investment as an obtuse alpha-numeric, you can go in the library to amend or revise the "working name" so it makes sense.  For example, BRKB was named null, until I amended it in the library.

You may have to fine-tune the type of asset - ETF, Common Stock, Mutual Fund, Bond, etc. (I used "other asset" for MLPs).  BTW, I have seen the label, "return of capital" in the income choices.  This will be useful when handling  partnership distributions.

In the Individual Version, there is only one look at "Total Assets" and it is lacking very much detail (only seven data points).  Aggregate data can be displayed in the report function by selecting each of the accounts to be aggregated in the chosen report - performance, asset allocation, sector allocation or about twenty-plus others.  This is prepared and presented in an on-screen report or graph that scrolls left-to-right.  Printing is an option from here.

My general impression is the software is easy.  If you do not know or make a mistake - keep rolling, it is all fixable - there are no dead-ends.  For example, when I realized this may be a keeper, I wondered if I had to dump the trial data and start over?  No problem. The three trial accounts reside beside my 25 accounts and don't get in the way because I deselect them from the reports being generated.

Once I am proficient and have used the trial accounts as examples all I need, I can simple delete them using the add/edit/delete function.

So I commend the authors of the software for making what I need, want, and can use.

The only complaint I have is when I am using the backspace key, it moves fast and will even jump to the previous data box before I realize I am erasing more than intended.  Honestly, that is the only thing that has earned spontaneous curse words.  Not bad for three days!

Good luck and thanks,

Raymundo

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