I'm struggling to come up with an adequate workflow for managing my investments. The investment account is held in a third party company and linked (not Old Mutual or 22seven product).
- Quantify total investment contributions.
- Quantify total investment charges (TIC).
- Quantify total investment taxes including dividends tax.
- Quantify income other than capital growth - dividend income, interest.
- See changes in investment capital (i.e. underlying share price changes as pulled from 3rd party statement. Think this is covered so far.
The workflow is a bit of a maze at the moment.
For item 1: Total Investment Contributions
There are flows from my 22seven linked accounts (e.g. FNB). Do I categorize these as transfers? The Invest-Save-Repay category seems to be an account to which you contribute and grow, however is it a transfer i.e. net no gain, or an outflow (payment) from transactional/cheque account (expense) and then inflow to Invest-Save-Repay?
If I show as an expense and income, or a transfer, the net gain is the same. Not sure which is best to meet the objective - see below.
For item 2 to 4: Custom categories
The custom categories cover this somewhat, but I don't want these income/expense to be mixed in with other spending groups.For instance, right now I have to show these as an Income spending group. I would like it to all be housed under an Investment spending group (Invest-Save-Repay) in order to see the net growth, and then in the category as expenses (fees, taxes) and incomes (interest, dividends). I want to see if I grown my net investments (not overall net worth) in the spending group, and what proportion was dividends, interest, fees, taxes, etc.