Hi - I’m trying to get started with PP and have figured out how to export and convert a CSV so that it’s suitable for importing. Before I do all of that for real, I’m trying to work out if there are advantages/disadvantages to creating seprate securities accounts.
We have two main accounts (one for me and one for my wife) and within those three subaccounts each (general taxable trading account, non-taxable (ISA), and pension (SIPP)). I’m mainly interested in overall portfolio performance, analysis and tracking.
I can get most of that at the subaccount level from my broker already. Is it better to create all six accounts (plus probably some interest earning cash accounts) or import as a single portfolio. I don’t mind setting it up in the more complex way as long as I can see an overall view as that’s what I’m lacking today.
Hope that makes sense. Thank-you.
This depends on whether the sub-accounts contain some of the same securities. PP works according to the FIFO method, and if you have everything in one custody account, the oldest pieces are always sold first. If the pieces from a sub-account are sold and happen not to be the oldest pieces of the total number, then everything gets mixed up.
So if I enter a SELL transaction later, it will assume that it’s sold from the oldest holding?
That’s very helpful as we do have the same securities in mutliple accounts, so it sounds like it’s worth setting up the various accounts separately.
Does this still permit an overall view of the portfolio?
Yes, per security account.
Yes, sure, that’s exactly what PP is built for.
Six accounts. Some things don’t filter so well but it’s normally the best way to go. If you need more detail then dump the output to a spreadsheet.
“Some things don’t filter so well but it’s normally the best way to go.” Can you expand on that a little please? I’m keen to try PP but I have a lot of transaction history I need to convert which requires quite a lot of manual input due to my broker’s poor export options.
I guess I can manage exporting from PP and spreadsheet if I need something advanced and unusual, but I’m really trynig to get away from spreadsheets (been there done that :-))
Filtering support has been progressively extended. In the current Version 0.64.4 (July 2023) the only reports that do not support filtering (by account) are Trades and Performance (although widgets support filtering). I load all my accounts into a single file and use filtering to look at specific accounts. It’s great!
I’ll just mention for an account you might want to filter both Security and Deposit Account, or just one of them, and any particular combinations of various accounts.
Thank-you for the help. I guess I’ll have to experiment!
If there are multiple in or out movements that might not be adequate, say for tax reporting. A better way is to use Accounts, Trades then Filter data by transaction type and Filter data by portfolio and reference account.
Again, dump the output to a spreadsheet for more work on specific securities or a time period, say for tax reporting.