How do I correctly enter US shares in the opeing balance?
For example, if I purchase 100 SHOP shares and the broker account shows a cost of USD49,500.00
The Opening Account Box shows:
Cost Base AU$:
QTY: 100
Unit/Share
Ex.rate = 0.73
Market Value:
Do I calculate and enter as follows:
1- Cost base AU$ = purchase price/Ex.rate = USD49.500/0.73 = AUD67,808
2- Qty = 100
3- Then the next box calculates the unit/share price
4- The Ex rate is given on the day
5-The next box calculates the market value (is the same as calculated in 1- ?)
Hi @Rick47
Consider the following when you enter a holding as an opening balance;
Cost Base - has to be added in the original currency the shares have been traded, in your case USD. This is your actual cost in purchasing those shares and will be considered in your tax reports.
QTY - 100
Unit/Share - market price as of the date you add the shares in your portfolio as an opening balance, This price is considered for your performance calculation.
Ex.rate - This is required to convert your shares to your portfolio currency, if you do not have a specific rate, you can go ahead with the default rate
Market Value - this will be calculated automatically once you enter quantity, market price and exchange rate.
Hope this clarifies, please get in touch with our support team via the chat window or email at support@sharesight.com if you need any further support on this.
