@mlantry @huntermit always great to hear feedback and you’ve raised some interesting ideas and healthy debate
@mlantry It probably falls into the larger discussion around multiple cash accounts and being able to sync those to trades. It does seem however to not fall into the logic of our trade form, where you have the trade price x quantity and that either divided or times by the exchange rate to create an FX event for tax as outlined by @goronwyprice
It sounds like you’re using AUD:USD fx trades to be your cash account rather than the manual cash account in Sharesight as mentioned by @mlantry? If that’s the case it would be good for me and I’m sure others who are interested in this topic with your logic around this one?
Am I on the right track in assuming you make a trade, then make a duplicate trade in your Forex holding? For instance, buy 1000 units at 0.7 USD FX rates of x US stock, then you manually make a transaction on your AUD:USD fx holding for a purchase of 700 USD (at that FX rate)?
Sharesight can only import the information that’s available to us, as deposits to these brokers are completely independent of the trades that are made, we have no way of determining what the exchange rate is, our only identifier of an FX event is that the security is made in a market that exists outside of the tax residency of the portfolio.
In the meantime, we’ll get in touch with SelfWealth to bring this to their attention, we can’t guarantee a speedy fix but it’s always good to highlight what affects customers