Hi, wondering if there is a way to show fixed costs like monthly subscription to Marcus Padley, annual subscription to Australian Shareholders Association, monthly subscription to Aus Financial Review etc. Would be great to easily see how much these things are draining away from my returns. I know it’s a simple calc that I could do in seconds, but would be nice to have it integrated into my Portfolio. Thanks.
Welcome @gje do you mean Sharesight aggregate (or integrate) all investing/financial subscription cost into the platform? Calculate that as a % of portfolio total value?
Hi @RickyYeo . I guess I’m thinking of an Investment Category which is Recurring Costs (which could be an extension of your existing Sector Classification / Industry Classification / Investment Type categories) and where you can post recurring costs (monthly, quarterly, annual) which just become negative $ items, and let you see what your “investing costs” are against your “investment returns”.
Hopefully the costs would always be much less than returns, but you never know, if you take out Premium advice services, charting packages, Stockopedia etc etc and then make unlucky investments, you could be in the situation of needing to decide whether some of your Costs are worth it.
Also of course an easy view of costs is good for Tax Returns.
Cheers.
@gje thanks for the information. I think we will need to build out a set of tools that can handles ‘expenses’ before we can have this. Since currently Sharesight only tracks assets.
Would it work if you track these recurring cost as a ‘cash account’ function (if you’re on Investor or Expert plan). You can add negative amount on there. Although that doesn’t affect the portfolio return.
@RickeyYeo Thanks for that info. The Cash Accounts feature looks v useful. Yes recurring expenses could just be a regular debit in there. I’m still on the free option. I should try a paid option for a month probably and see how it goes. Thanks, you can close this issue, cheers.