Just wondering, does anyone know where I can find information on how to audit what Sharesight did/does when you deposit AUD then exchange it to USD? How do I track/ensure that Sharesight used/uses the conversion rate that Selfwealth used?

Hey Piumi Thanks for reaching out! I think originally my question was probably related to that thread, but the more I clarify what’s occuring, I think what I’m asking is slightly different than that discussion. I’d like to suggest there’s two fundamentals issues that need resolving. There is no …

Hi Hunter I use Self Wealth. You can easily set Self Wealth to email all stock transactions including US ones directly into Sharesight. You need to do this via the Self Wealth website not their app. In Self Wealth go into Trading Accounts then select the Contract Notes tab. Here you can add email…

That does not cater for your transaction of AUD cash into USD cash… selfwealth does not email when you buy the USD Cash… (cash… not stocks)

As a stake user myself, what is your reason to track a forex buy? As the cash holding is then depleted as you make your trades? or you wish to just show your cash component to your portfolio?

New Sharesight user, currently grappling with the same issue. The scenario is this: You start with AUD in your SW account. Transfer some to USD account Buy some US shares Sell the US shares Transfer the USD balance back to AUD The problem seems to be that Sharesight tracks your FX gain/loss bas…

Hi @twofootedgiant referring to the first and fourth transactions you have mentioned; conversion of AUD to USD and then USD back to AUD are completely independent from trades made, we have no way of tracking such FX conversions or determining the exchange rate used for such conversion. Sharesight ca…

My take would be that you have to account for the conversion when you do the trade not when you transfer the money back to AUD. On the day you do the trade as far as the ATO is concerned you have incurred a capital gain event and so it must go onto your tax return. Say for example you sell some Goo…

Thanks - I understand the limitation placed by the available data. I guess my immediate need is to understand how I can manually account for FX gain / loss associated with a cash transaction (conversion of AUD to USD or vice versa) and occurs independently of any asset purchase or sale. I can’t see…

The ATO website talks about using a foreign transaction account under $250,000 balance that you can ignore currency fluctuations for tax purposes. Is that applicable here? Would then probably be considered double dipping if we also claimed the exchange rate fee for deductions as well? F…

How do I track Selfwealth AUD to USD conversions

Sharesight features

Piumi_Sharesight 14 July 2021 04:52 2

@huntermit we already have a discussion on a similar topic here Trust you have already joined it.

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How do I track Selfwealth AUD to USD conversions

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