About the Reporting & tax category

Managing your portfolio, tax and dividends

There’s one thing that I can’t get a report on: Admin- and fee-related costs. Perhaps I just haven’t found it, but I’ve had a good look. It is the only data missing if one wants to reconcile with one’s accountant’s Profit & Loss Statement. Over the 5 year’s data that I have entered, there are many cost items and I need them reported in two forms: a) a full Transaction Listing, which ideally would include all Income, Costs, Purchases, Sales and Transfers, i.e. all transactions to and from the Bank accounts; and b) Costs in the Sharesight Cost Categories. In fact, even better, would be a pro-forma Profit & Loss Statement.

… and another thing: in Australia, we get a government guarantee on bank deposits of less than AUD250,000 per financial institution. If, as I do, one values that guarantee and one has significant holdings of cash, Term Deposits, etc., one needs to use more than one bank. It would be great to have the transaction facility that Sharesight offers for one’s principle bank account available for at least one other bank. I find Sharesight a good service and offer these suggestions in the spirit of making a good service even better. Finally, in that spirit, I add that I am genuinely surprised that such a great accounting system has been built on a single-entry model, when double-entry has been the industry standard (and an excellent one) for about 400 years! I hope that, before too long, Sharesight will see the many advantages of switching to double entry.