Adapt existing accounting file for Investment Accounting

If you already have a double-entry accounting file in Banana Accounting, you can extend it with the Investment Accounting functionality instead of creating a new file. This page explains the additional configuration steps required before you can start managing investments.

Add Items table and Transactions columns

If your accounting file was not originally created for Investment Accounting, you first need to enable the required tables and columns.

Use the appropriate command to:

• add the Items table and the investment-specific columns to the Transactions table.
• Complete the fields by entering all the information about your investments.

After enabling the functionality, make sure that the ItemId column is visible in the Transactions table: menu Data > Display Columns, and check the "ItemsId" column.

Adjusting the Chart of Accounts

Review your chart of accounts and add the accounts required for investment accounting.

In particular:

• add the Asset Accounts that will hold your investments;
• add any income and expense accounts required for investment transactions, such as realized and unrealized gains and losses, commissions, interest and dividends.

Note: If you currently use an Income & Expenses accounting file, first convert it to a Double-entry Accounting file before continuing.

Change the Decimal Precision for Unit Price

Some investments require prices with more than four decimal places.

If necessary, increase the Unit Price precision using:

• Tools > Add/Remove functionalities > Change Unit Price Decimal Places.

This is particularly useful for cryptocurrencies, bonds and other securities quoted with many decimal places.