I have a SMSF with an Australian trading account(AUD) and a separate US trading account(USD) (i.e two separate cash accounts in my portfolio). Should I include these in the same portfolio? If my AUD account is my trades cash account, when i import and sync my US trades these show up in the AUD account. So I then have to manually input everything for the US account. Is there a way around this or is it better to seperate them into different portfolios?
I’d also like an answer to this question if anyone can help?
I looked for this too but in the end I created two Porfolios and have a consolidated view that includes both. I use the Consolidated View for most things but have to run tax reports at the specific portfolio level which tends to be better for me anyway.
I have the same SMSF setup with an AU broker for local trades and a US broker for international. Although I’m a dual citizen which means I still need to file my US taxes (ugh).
So…I actually maintain one AUD portfolio with my AU and US accounts (and their cash accounts) and then I also have a duplicate portfolio in USD with the same accounts.
This enables me to speak the right language to my Aussie accountant and my American one.
Then I use consolidated reporting for my day to day performance.
Commsec for AU so the import and updates are automatic with contract note feature
Charles Schwab for US, I can upload the historical CSV file but have to manually add trades.