Which Deposit Accounts are needed when not tracking cash

English
1

Hello! I am starting with PP but I have doubts with the “Deposit Accounts”. I want to use PP only to follow the evolution of my stocks but not my cash. I have accounts in IB and Degiro.

What is the best practice: create a general deposit account for each currency and link it with the two securities accounts, or create a different deposit account and security account for each currency and broker?

For example:

Option 1

  • Deposit Account: EUR-Account → Security Accounts: IB, Degiro
  • Deposit Account: USD-Account → Security Accounts: IB, Degiro

Option 2

  • Deposit Account: IB-EUR → Security Accounts: IB-EUR
  • Deposit Account: Degiro-EUR → Security Accounts: Degiro-EUR
  • Deposit Account: IB-USD → Security Accounts: IB-USD
  • Deposit Account: Degiro-USD → Security Accounts: Degiro-USD

Anys pros and cons between both options?

2

Hey albert77,

the advantage of option 2 is that you can track your deposit accounts if you later decide to track you cash.

1 Like
3

That makes sense, it’s good to leave the option open for the future