oddity in qfx file

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oddity in qfx file

John Rakestraw
Or perhaps the oddity is in me?

I'm setting up the HBCI import of different accounts. All goes well for
checking and credit card accounts.

However, when I set up a money market account and then imported the
data, I saw that all of the transactions were reversed -- reinvested
dividends and deposits that should show up as positive in my account
instead showed up as negatives, and negatives (i.e., money I withdrew
from the account) showed up as positives. Not good.

So I downloaded the qfx file from the site to take a look. Here's a
reinvested dividend transaction from the file:

REINVESTED
DIVIDEND</INVTRAN><SECID><UNIQUEID>903288306<UNIQUEIDTYPE>CUSIP</SECID><INCOMETYPE>DIV<TOTAL>-2.7<SUBACCTSEC>CASH<UNITS>2.7<UNITPRICE>1.0<COMMISSION>0.0<FEES>0.0</REINVEST

And here's a redemption transaction from the file:

FUNDS TRANSFER
REDEMPTION</INVTRAN><SECID><UNIQUEID>903288306<UNIQUEIDTYPE>CUSIP</SECID><UNITS>-4000.0<UNITPRICE>1.0<COMMISSION>0.0<FEES>0.0<WITHHOLDING>0.0<TOTAL>4000.0<CURRENCY>

The reinvested dividend should add to the total in my account, and I
see that the <TOTAL> amount is -2.7 and the <UNITS> amount is 2.7. The
amount is imported as a subtraction from my account. And in the
redemption, the <TOTAL> amount is 4000.0 and the <UNITS> amount is
-4000.0. The amount is imported as an addition to my account.

The upshot is that the import adds money to my account when it should
subtract it, and it subtracts money from my account when it should add
it.

(Checking and credit card accounts from the same financial management
company import correctly.)

My question: Is this a mistake in the qfx file, a mistake in my account
set-up, or a gnucash bug? (Yes, I know it's most likely to be the 2d,
so I'll also ask what I might do to fix it.)

However, that would seem to be such an odd mistake in the qfx file that
I'm thinking it must not be a mistake and that instead I have something
wrong in the way I've set up the account. It's a money market mutual
fund set up as account type "mutual fund." I've also tried it with the
account type "bank" (since it functions more like an interest-bearing
savings account) but that doesn't work either.

Gnucash 2.04 on Fedora Core 6.

Thanks.

--
John Rakestraw

--
John Rakestraw
Georgetown University Center for New Designs in Learning and Scholarship
http://cndls.georgetown.edu/
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Re: oddity in qfx file

David Reiser
John Rakestraw wrote:

> Or perhaps the oddity is in me?
>
> I'm setting up the HBCI import of different accounts. All goes well for
> checking and credit card accounts.
>
> However, when I set up a money market account and then imported the
> data, I saw that all of the transactions were reversed -- reinvested
> dividends and deposits that should show up as positive in my account
> instead showed up as negatives, and negatives (i.e., money I withdrew
> from the account) showed up as positives. Not good.
>
> So I downloaded the qfx file from the site to take a look. Here's a
> reinvested dividend transaction from the file:
>
> REINVESTED
> DIVIDEND</INVTRAN><SECID><UNIQUEID>903288306<UNIQUEIDTYPE>CUSIP</SECID><INCOMETYPE>DIV<TOTAL>-2.7<SUBACCTSEC>CASH<UNITS>2.7<UNITPRICE>1.0<COMMISSION>0.0<FEES>0.0</REINVEST
>
> And here's a redemption transaction from the file:
>
> FUNDS TRANSFER
> REDEMPTION</INVTRAN><SECID><UNIQUEID>903288306<UNIQUEIDTYPE>CUSIP</SECID><UNITS>-4000.0<UNITPRICE>1.0<COMMISSION>0.0<FEES>0.0<WITHHOLDING>0.0<TOTAL>4000.0<CURRENCY>
>
> The reinvested dividend should add to the total in my account, and I
> see that the <TOTAL> amount is -2.7 and the <UNITS> amount is 2.7. The
> amount is imported as a subtraction from my account. And in the
> redemption, the <TOTAL> amount is 4000.0 and the <UNITS> amount is
> -4000.0. The amount is imported as an addition to my account.
>
> The upshot is that the import adds money to my account when it should
> subtract it, and it subtracts money from my account when it should add
> it.
>
> (Checking and credit card accounts from the same financial management
> company import correctly.)
>
> My question: Is this a mistake in the qfx file, a mistake in my account
> set-up, or a gnucash bug? (Yes, I know it's most likely to be the 2d,
> so I'll also ask what I might do to fix it.)
>
> However, that would seem to be such an odd mistake in the qfx file that
> I'm thinking it must not be a mistake and that instead I have something
> wrong in the way I've set up the account. It's a money market mutual
> fund set up as account type "mutual fund." I've also tried it with the
> account type "bank" (since it functions more like an interest-bearing
> savings account) but that doesn't work either.
>
> Gnucash 2.04 on Fedora Core 6.
>
> Thanks.
>
The OFX spec says that for reinvestment transactions, "TOTAL and UNITS
are signed as for an investment buy" so it looks like your qfx file has
it right -- the reinvestment TOTAL is negative because cash flows out of
your account to purchase the security.

I would have expected the mutual fund account type would work properly.
You need to make sure that the account is denominated in "units" rather
than dollars, even though it looks like there's a 1:1 exchange rate all
the time.

My broker has my sweep account so convoluted that I haven't been able to
figure out how to handle it yet, so I don't have any experience setting
up money market accounts.

Dave
--
David Reiser
[hidden email]

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