Paying for Xero doesn’t help - it just replicates the problem in Xero as well. I’ve lost count of the number of times I’ve had to create journals in Xero to fix what has come out of Sharesight all because I forgot to change the cash account Sharesight is pointed at before confirming a transaction…
Good to hear (well, not good to hear that Xero doesn’t solve the problem) but good to confirm my decision to move away from Sharesight.
For anyone following along with a single portfolio, I can highly recommend BGL Simple Invest 360 Investor Edition.
It pulls in transactions from share trading platforms, your bank accounts, automatically processes dividend and distribution transactions, and will even lodge your trust / company tax returns direct to the ATO.
I won’t link to it here, but if you google it, you’ll find what you need.
And, for people with more than one bank account, it happily handles transactions between bank accounts, purchases out of one account and dividends into another account.
Downside is that it is double entry accounting, so it is a little more involved, but once set up, it actually does your books.
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Any update Share Sight?
I have same sitatuation. I have portfolio in ShareSight, that is an account at brokerage. I have transactions/holdings in CA$ and US$. The default currency is CA$. I have created two cash accounts one for CA$ and one for US$. ShareSight updates the CA$ cash account but does not allow me to keep US$ automatically. Ideally, there should be a field to choose the cash account with every transaction.
I see that there are lot of requests in this thread and no action has been taken for a number of years. Is this expected in near future?
Is there a workaround that can be used?
I have the same problem. I have cash account in Euro , US Dollar and GBP. Sharesight team have any idea if the possibility to chose from differetn cash account is going to be implemented?
I have two brokers and two bank accounts and find Sharesight a nightmare not being able to handle two difrerent bank accounts!!!
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Tracking cash accounts is linked to tracking broker platforms:
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C’mon Sharesight - this would be such a simple fix to implement. You already have the ability to point both dividends and purchases/sales at different bank accounts in Xero, so why not make that ability available either as an option for each security (ie different securities can be pointed to different bank accounts) or an option to select when confirming a payout or trade?
The fact that is hasn’t’ been done suggests to me that Sharesight doesn’t actually understand the problem!
Why has this not been actioned Sharesight. Or even acknowledged. This feature request was raised over 3 years ago!
Sharing assets across different brokers and trading in different currencies makes this a real problem. Having only one payout account is very simplistic and this feature is a must have.
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It’s a bloody long road. It’s now Nov 2024. Can we have visibility of the enhancement pipeline.
We just released the first update (more to come) on our cash account function. Now you can sync trades into multiple cash accounts. The help page is here for more information. There are some limitation with this update which we are working on and should release over the next few months.
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This is positive progress at last, but it doesn’t work for Xero linked Cash Accounts. How far away will it be until the same functionality is available with Xero Cash Accounts?
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