Thanks for your response. Changing the option trade in to a stock trade is
lot of work as each has to be manually entered. I was looking for solution
wherein the expired investments are not deleted and hence report gain/loss
correctly at all times.

Regards
Venu

"Cal Learner-- MVP" wrote:

- quote -

In microsoft.public.money, Victor wrote:

- quote -

If there were a workaround, would that qualify? You could, for
example, change the option open to sell into a short sale of a
"stock" and change the expiration into covering for $0. That would
probably help the performance reports.

Or do you mean solution as in making the program handle it as it
should be?



- quote -

I use Money 2007 Deluxe with IB. I find that when an option expires, Money
2007 deletes the option investment (but retains transactions correctly) and
hence does not report gain/loss of trades in performance reports. Is there a
solution for this problem?
Thanks
Victor


"DanL" wrote:

- quote -

Just a little note on options in case you start trading them. If you have
Money Standard, downloaded transactions will show up properly (it will list
"contracts" instead of "shares"). I know they do from OptionsXpress in the
Money Standard 2004 version, at least. I'm not sure about IB option
transactions via the download, I upgraded to Money Deluxe 2005 before
attempting downloads from IB.

Also, to clarify what I said in the previous post, Money Standard *will*
recognize option tickers properly if transactions are manually entered, it
just won't let you enter "contracts". Money Standard will correctly update
the option price when you do an update, so for you to get correct amounts on
a manually entered options transactions, you *must* convert contracts to
"shares" by using the multiplier (usually 100). You might be tempted to
enter # of contracts in the Shares field and use the multiplier on the Price
field - do *not* do this or your balances on open options positions will get
all screwed up when you do an update.

Now in case you're wondering why you would have to manually enter an options
transaction if you have the transactions download, it is required sometimes.
The classic case is if the underlying stock splits, your option ticker and
multiplier will change and transactions won't sync up. You'll get a bunch
of "Add Shares" type transactions for the new option ticker when you close
the position, and then depending on how the options sold, you may need to
mees around with the contract numbers and add more "Sell to Close"
transactions. It's rare, but it happens.....

I use Money with Interactive Brokers. It does not work using the automated
"Internet Updates" feature, you must log into the IB account management
feature via web browser and download the transactions using the Monthly or
Daily statements. It works with Money Standard, however I use Money 2005
Deluxe because that version is better at handling options. Money Standard
handles options correctly as long as you don't have to manually enter
transactions. If you do, you have to "fudge" entries as it does not give
you a "contract" screen, you must enter them like a stock (basically,
multiply your contracts by 100 and enter number of "shares", then enter the
contract price). It *does* understand the 5-character option symbol on
manual entry, just not the concept of contracts. Again, this is for Money
STANDARD, Money Deluxe works fine on it's own. BTW, this was true up to the
2004 version, I don't know if Money Standard 2005 has been upgraded to
handle manual options entry correctly.

The IB download is not a smooth operation. If all you do is trade from the
LONG side *and* hold your positions until at least one day after purchase,
you will be fine. If you sell stocks SHORT, or daytrade (buy/sell in same
day), you will need to manipulate what's downloaded into Money.

The problem with SHORT sales is that IB downloads them into Money as a
"Sell" transaction instead of a "Short Sell", this forces money to create
"Add Shares" transactions to insert dummy shares to cover shares Money
thinks you sold. You need to manually change the "Sell" transactions to
"Short Sell". Additionally, when you close a SHORT position, Money
downloads it as a "Buy" when it really needs to be a "Cover Short", so after
you've modified the "Sell" transactions to "Short Sell", you must modify the
"Buy" transactions to "Cover Short". Once you're done modifying the types,
delete the "Add Shares" transactions. Note that if you've shorted the same
stock multiple times, you need to modify all the "Sell" and "Buy"
transaction types for that stock before deleting any of the "Add Shares".

The problem with daytrades from the LONG side is that Money imports the
SELLS first, even though IB's timestamps indicate the BUYS took place
earlier. As a result, Money once again needs to insert "Add Shares"
transactions to insert dummy shares that Money thinks you sold first. What
you need to do in this case is modify the DATE of the "Buy" transaction to
the previous day, it will not let you move the order of the transactions.
After you've updated the "Buy" date to something earlier than the "Sell"
date, you can then delete the dummy "Add Share" transactions. The same
caveat that applies to shorting the same stock also applies to daytrading
the same stock, you must modify *all* the "Buy" dates before deleting the
dummy "Add Shares" transactions

These modifications can be a royal pain if you are a high volume trader, but
it's still better than manually entering your trades.

Hope this helps.


"Quickenquitter" <Quickenquitter[at]discussions.microsoft.com> wrote in message
news:7C28A0C5-C4B1-4425-AD57-2A0E00059986[at]microsoft.com...
- quote -

Thanks Dan,
That sounds similar to what I have to do in Quicken! I'll have to watch
those short sales , don;t do options. I use a Pgm called Tradekeeper for my
Tax. I can import directly into it with Quicken and Money. Quicken pissed me
off when they sent me a letter saying they weren;t supporting my version for
online update any more. That wasd fine, but what really took the cake was
there $20 off coupon (online with them only). IT was $20 off nothin, I can
buy it cheaper at Walmart with no coupon. To top it off they had a supposed
$10 off coupon listed on their web site, buty end cost was some as my $20 off
coupon.... They don't appreciate there users much at all....
I haven;t found any major problems with Money as far as what Quicken does vs
Money...
Thanks again...

p.s. I sent an email to Intuit about there bogus offer and never received a
reply.


"DanL" wrote:

- quote -

IB will download into MS Money, but it's not smooth, as far as I can tell.
It's not a feature of the "Internet Updates", you need to view your IB
statements through your browser and select the MSMoney view option. I have
MS Money 2005 Deluxe, I got the Deluxe edition because it handles options
properly, even if entered manually (uses the correct 5-position option
symbols and uses "contracts" instead of "shares"). MS Money Standard will
use "contracts" if your broker (e.g. OptionsXpress) has direct downloads
through the Internet Update feature, but you can't manually enter Option
symbols and "contracts" if you need to.

After going through a year of manually entering trades for IB, and making
the occasional error that always put me out of balance, I decided to give
the download feature a try. All you need to do is go to the IB website and
view your statements, there's a drop-down list for which format you would
like to view them in, pick MS Money and make sure Money is running at the
time and set to the IB account you've setup. Here is the catch, and it's a
pain if you have a lot of transactions: IB does not indicate if a sale is a
Short. Likewise, they do not indicate if a buy is a Short Cover. Money
needs to know this!! What happens on a short sale is Money has to insert
"Add Shares" for the short sale in front of the "Sell" transactions that are
imported. It also imports the covers as "Buys". What you need to do is
*manually* change all the "Sell" transactions to "Short Sell", delete the
"Add Shares" Money has inserted, then change all the "Buy" transactions to
"Cover Short". A royal pain!!! It's not really Money's fault IMO, it's the
way IB does their statements. I have another piece of software (called
TradeLog) I use for taxes, since I'm a trader and my transactions are not
treated the same as an investor for tax purposes, that software will
properly identify Short Sales from IB based on the order of the
transactions. I've also seen Money sometimes put "Add Shares" transactions
in for regular LONG Buys/Sells, I guess IB doesn't order the transactions
properly and Money picks up the "Sell" first and is forced to "Add Shares".

If anyone has a workaround for this, I'd surely like to have it as changing
hundreds of transcations a year takes a lot of time. It still beats manual
entry, though.


"Quickenquitter" <Quickenquitter[at]discussions.microsoft.com> wrote in message
news:80567D7D-31F9-4D56-9ED2-8B8D0C8EB5A0[at]microsoft.com...
- quote -

Cal,
Why did yu reply if you didn't answer the question?
I specifically asked if anyone is able to use MS Money with Interactive
Brokers.... The free evaluation MS Money copy doesn't list it as a financial
institution, but the Money web site does.
I am trying to find out if this is an error on the web site or just an
oversight in the evaluation copy.... I know what Interactive Brokers is and I
want to be able to download my trades into Money like you can other
Brokers....

Does anybody use it?

"Cal Learner-- MVP" wrote:

- quote -

In microsoft.public.money, Quickenquitter wrote:

- quote -

See
http://www.interactivebrokers.com/ph...php?ib_entity=

It is a web download. That may be more work, but it has its
advantages.

Is anyone able to use Money 2005 and download activity from Interactive
Brokers?

The evaluation copy doesn;t show it in the list!