Log Maintenance
Chapter 10 - Log Maintenance
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You get to the Log Maintenance Menu from the Main Menu by choosing Log Maintenance. From there, you can choose to view the:
- Open Shares Log
- Closed Shares Log
- Distribution Log
You can limit the records displayed by specifying a date range. Function keys at the bottom of the screen are:
- F2:Select Date Range - restrict the displayed records to a range of dates.
- Enter - accept the highlighted choice.
- Esc:Exit - return to the Main Menu.
- F10:GoTo DOS - suspend Capital Gainz and invoke the DOS Shell.
The Open Shares Log represents unrealized gains and losses, the Closed Shares Log represents realized gains and losses, and the Distribution Log represents realized distributions. This means that the gains and losses shown in the Open Shares Log can change based on other changes, such as updating the price of the security. The gains and losses shown in the Closed Shares Log only change if you explicitly change the closed shares records. Likewise, an entry in the Distribution log only changes if you modify the distribution record.
10.1 Open Shares Log
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The Open Shares Log requires you to enter the symbol of the local security whose open shares records you want to view. If you leave this entry blank, or enter an invalid name, the Local Security Lookup Table pops up. This table is described in Chapter 7. After you enter a valid security symbol, the Open Shares Log shows the security's name, the current date or the specified date range, and the security's current price. The records of shares bought over the period and still held as of the current date are sorted in ascending order by date, and show:
- The purchase Date.
- The number of Shares purchased.
- The Open Price (basis price), which is the same as the purchase price if the average method is not being used.
- The Open Amount (basis amount), which is the same as the purchase amount if the average method is not being used.
- The Open Commission or load.
- The current unrealized Open Gain/Loss.
At the bottom of the table, these values are totalled for the specified date range.
The function keys at the bottom of the screen are:
- Ctrl-F1:Function List - popup a list of functions to choose from.
- Ins:Add - bring up the Buy Shares Form to record a purchase.
- Enter:Change - bring up the Buy Shares Form to change the highlighted open shares record.
- Del:Delete - delete the highlighted open shares record.
- Esc:Exit - go to the symbol field, or exit from the Open Shares Log, returning to the Log Maintenance Menu, if you are on the symbol field.
- Ctrl-PgUp:Top - go to the first record.
- Ctrl-PgDn:Bottom - go to the last record.
- F2:Delete Range - delete the displayed range of open shares records.
- F3:Open Shares Detail Report - generate the Open Shares Detail Report for the displayed local security and date range.
- F4:Goto Symbol - go to the symbol field to enter a different symbol.
- F10:More - scroll the list of functions.
10.1.1 Add an Open Shares Record
If you hit the Ins key to add an open shares record, the Buy Shares Form pops up. The fields in this form are described in Chapter 7. However, you can't go to the Sell Shares Form or Record Distribution Form.
Adding an open shares record is the same as recording a share purchase. However, while the Buy Shares Form is accepted repeatedly when reached through the Activity Menu, it is only accepted once when brought up from the Open Shares Log.
A price history entry is added.
After entering the purchase, you return to the Open Shares Log, and the new record is highlighted.
10.1.1.1 Example - Add an Open Shares Record
Say you record the following purchases for Local Symbol TEST:
# Date Shares Price Amount Open
Bought Commission
1) 1/01/90 10.0000 4.9000 49.00 1.00 ($5.00 price with 2% load)
2) 2/01/90 9.0909 5.3900 49.00 1.00 ($5.50 price with 2% load)
3) 3/01/90 10.5263 4.6550 49.00 1.00 ($4.75 price with 2% load)- Three records containing purchase information are added to the open shares file.
- Three records containing price information for the purchases are added to the price history file.
- The local security file record has open shares set to 29.6172, open amount set to $147.00, and open commission set to $3.00.
10.1.2 Change an Open Shares Record
If you hit the Enter key to change the highlighted open shares record, the Buy Shares Form pops up. The fields in this form are described in Chapter 7.
The fields in the Buy Shares Form are initialized to the record's current values. You can change all of the fields except the security symbol. Even if the average selling method is being used, the actual purchase price and amount are displayed and used.
The price history entry is deleted, and a new one is added.
After changing the open shares record, you return to the Open Shares Log, and the changed record is highlighted.
10.1.2.1 Example - Change an Open Shares Record
Using the previous example, say you change the second record's Date, Price, and Commission:
# Date Shares Price Amount Open
Bought Commission
2) 1/31/90 9.0909 5.5000 50.00 0.00- The record is changed in the open shares file.
- The old price history record is deleted, and a new one is added for this date/price.
- The local security file record is changed, and now has open shares set to 29.6172, open amount set to $148.00, and open commission set to $2.00.
10.1.3 Delete an Open Shares Record
If you hit the Del key to delete the highlighted open shares record, the Buy Shares Form pops up. The fields in this form are described in Chapter 7.
The fields in the Buy Shares Form are initialized to the record's current values. Even if the average selling method is being used, the actual purchase price and amount are displayed and used in the deletion.
If this was the only activity with this price/date for this security, then the price history entry is deleted.
After deleting the open shares record, you return to the Open Shares Log, and the record after the deleted record is highlighted.
10.1.3.1 Example - Delete an Open Shares Record
Using the previous example, say you delete the second record.
- The record is deleted from the open shares file.
- The price history record is deleted.
- The local security file record is changed, and now has open shares set to 20.5263, open amount set to $98.00, and open commission set to $2.00.
10.1.4 Delete Range of Open Shares Records
The Delete Range function key allows you to delete the displayed range of open shares records, based on the previously entered date range. You will always be prompted for confirmation, regardless of the Confirm Delete global setting, since many records could be affected.
The corresponding price history entries are not deleted.
After the deletion, you return to the Log Maintenance Menu.
10.1.5 Open Shares Detail Report
The Open Shares Detail Report can be printed for the displayed local security and selected date range. See Chapter 15 for the format of this report.
10.1.6 Goto Symbol
If you hit the Goto Symbol function key, you are taken to the symbol entry field at the top of the table. This is the same as hitting the Esc key.
10.2 Closed Shares Log
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The Closed Shares Log requires you to enter the symbol of the local security whose closed shares records you want to view. If you leave this entry blank, or enter an invalid name, the Local Security Lookup Table pops up. This table is described in Chapter 7. After you enter a valid security symbol, the Closed Shares Log shows the security's name and the current date or the specified date range. Closed Shares records are sorted in ascending order first by the sell date and then by the purchase date, and show:
- The selling Date.
- The number of Shares sold.
- The Sell Price.
- The Sell Amount.
- The Sell Commission or load.
- The realized Sell Gain/Loss. (Current position for short sales.)
At the bottom of the table, these values are totaled for the specified date range.
The function keys at the bottom of the screen are:
- Ctrl-F1:Function List - popup a list of functions to choose from.
- Ins:Add - bring up the Sell Shares Form to record a sale.
- Enter:Change - bring up the Sell Shares Form to change the highlighted closed shares record.
- Del:Delete - delete the highlighted closed shares record.
- Esc:Exit - go to the symbol field, or exit from the Closed Shares Log, returning to the Log Maintenance Menu, if you are on the symbol field.
- Ctrl-PgUp:Top - go to the first record.
- Ctrl-PgDn:Bottom - go to the last record.
- F2:Delete Range - delete the displayed range of closed shares records.
- F3:Closed Shares Detail Report - generate the Closed Shares Detail Report for the displayed local security and date range.
- F4:Goto Symbol - go to the symbol field to enter a different symbol.
- F5:Apply Holding Period - the current value for the holding period in the User Settings is applied to the displayed records.
- F10:More - scroll the list of functions.
Before changing or deleting a sale, be sure to carefully read the relevant questions and answers in Chapter 5. There are a number of potential pitfalls you need to watch out for, especially if you use the averaging sell method.
10.2.1 Add a Closed Shares Record
If you hit the Ins key to add a closed shares record, the Sell Shares Form pops up. The fields in this form are described in Chapter 7. However, you can't go to the Buy Shares Form or Record Distribution Form.
Adding closed shares records is the same as selling shares. However, while the Sell Shares Form is accepted repeatedly when reached through the Activity Menu, it is only accepted once when brought up from the Closed Shares Log.
A price history entry is added.
After entering the sale, you return to the Closed Shares Log, and the first new record added is highlighted.
10.2.1.1 Example - Add a Closed Shares Record
Say you recorded the following purchases for Local Symbol TEST:
Date Shares Price Amount Open
Bought Commission
1/01/90 10.0000 4.9000 49.00 1.00
2/01/90 9.0909 5.3900 49.00 1.00
3/01/90 10.5263 4.6550 49.00 1.00and then executed a sale of 15 Shares at a Price of $5.292, using the FIFO Sell Method. The closed shares records created are:
Date Shares Price Amount Close Open Open Open
Sold Comm Date Basis Comm
1/15/91 10.0000 5.2920 52.92 0.00 1/01/90 49.00 1.00
1/15/91 5.0000 5.2920 26.46 0.00 2/01/90 26.95 0.55and the remaining open shares records are:
Date Shares Price Amount Open
Bought Commission
2/01/90 4.0909 5.3900 22.05 0.45
3/01/90 10.5263 4.6550 49.00 1.00- Two records with selling information are added to the closed shares file.
- One record with price information is added to the price history file.
- One open shares record is removed, and one open shares record is changed.
- The local security file record is changed, and now has open shares set to 14.6172, open amount set to $71.05, and open commission set to $1.45.
10.2.2 Change a Closed Shares Record
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If you hit the Enter key to change the highlighted closed shares record, the Sell Shares Form pops up. The fields in this form, except for the ones listed below, are described in Chapter 7.
The fields in the Sell Shares Form are initialized to the record's current values. You can change all of the fields except the security symbol and the selling method. The selling method is not stored in the closed shares record, and thus is not even displayed.
When changing a closed shares record, there is an additional field you can set in the Sell Shares Form:
- (Required) The Status of the sale: long term (LTERM), short term (STERM), return of principal (RPRIN), or short sale (SSELL). Remember that since the long term holding period can vary, the status of a sale is determined when the sale is recorded. The status is saved in the closed shares record, and closed shares records are not affected by changes in the long term holding period. This field is not available when adding records, as multiple closed shares records may be created when recording a sale.
There is a also panel to the right of the Sell Shares Form that shows open shares information for the closed shares record. This is not displayed when adding a sale, since multiple closed shares may be created. The fields in this panel are:
- The Date of the purchase.
- The purchase Price.
- The actual purchase Amount.
- The purchase Commission.
- The Basis used for the sale. Except for the averaging method, the purchase amount and the purchase basis are the same.
===>>> To get to this panel, use the Open Information key. You should be careful when changing the open amount or basis. These two are equal unless you used the average selling method. If you are using the averaging selling method, all open and closed shares records are used to determine the price when you execute a sale. Modifying a sale that used the average selling method affects any later sales. Thus, if you are using the averaging method, you should delete/unsell all sales from the most recent to the one you want to change, make your changes, and then re-execute the sales in order.
The price history entry is deleted, and a new one is added.
After changing the closed shares record, you return to the Closed Shares Log, and the changed record is highlighted.
10.2.2.1 Example - Change a Closed Shares Record
Using the previous example, say you change the records' Dates:
Date Shares Price Amount Close Open Open Open
Sold Comm Date Basis Comm
1/31/91 10.0000 5.2920 52.92 0.00 1/01/90 49.00 1.00
1/31/91 5.0000 5.2920 26.46 0.00 2/01/90 26.95 0.55- The records are changed in the closed shares file.
- The old price history record is deleted, and a new one is added.
- It's rarely a good idea to change much in the closed shares file. Unselling the shares and re-executing the sale is a better approach.
10.2.3 Delete a Closed Shares Record
If you hit the Del key to delete the highlighted closed shares record, the Sell Shares Form pops up. The fields in this form are described in Chapter 7.
The fields in the Sell Shares Form are initialized to the record's current values. The panel with open information is also displayed.
If this was the only activity with this price/date for this security, then the price history entry is deleted.
Before the record is deleted, you are given the option to 'unsell' the shares.
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===>>> 'Unselling' closed shares records means that the open share information is added back to the Open Shares File. The price used for the open shares record is the actual purchase price, which may be different from the basis price if you used the average selling method. The net effect is that you reverse the selling of these open shares. However, any note previously attached to the open shares is not restored. Instead, a default note of UNSOLD is used. When reversing a sale, be sure to unsell all closed shares records created by the sale, using the Delete Range function after restricting the displayed records by a date range from the Log Maintenance Menu.
If you choose not to unsell the shares, the closed shares record is simply deleted.
You can unsell a sold shares record that was created for a return of principal as well. Since the sold shares record has 0 shares, the net effect is that you add the principal back to the basis of the open shares.
When sold shares records are unsold, Capital Gainz tries to recombine the shares with any existing open shares records. For instance, say you sold 100 shares from a purchase of 200 shares, which changes the open shares record to only have 100 shares. If you then unsold the 100 shares, Capital Gainz will combine the 100 shares with the remaining open shares record to recreate the original purchase. Unsold records are only recombined with open shares records when the symbol, date, and price match. Thus, the only way an incorrect recombination can occur is if you made multiple purchases on the same date at the same price.
After deleting the closed shares record, you return to the Closed Shares Log, and the record after the deleted record is highlighted.
===>>> You shouldn't permanently delete closed shares records, since they are used in performance calculations. Also, if you are using the average selling method, all open and closed shares records are used to determine the price when you execute a sale.
10.2.4 Delete Range of Closed Shares Records
The Delete Range function key allows you to delete the displayed range of closed shares records, based on the previously entered date range. You will always be prompted for confirmation, regardless of the Confirm Delete global setting, since many records could be affected. You will also be given the option of unselling the shares, as described earlier.
The corresponding price history entries are not deleted.
After the deletion, you return to the Log Maintenance Menu.
===>>> You shouldn't permanently delete closed shares records, since they are used in performance calculations. Also, if you are using the average selling method, all open and closed shares records are used to determine the price when you execute a sale.
10.2.4.1 Example - Delete/Unsell Closed Shares Records
Using the previous example, let's delete/unsell the closed shares records in order to change the selling price. In this example, this is easily accomplished by simply changing the two records. But, if this sale affected a large number of purchases, and thus created many closed shares records, unsell/reselling is easier. To delete/unsell the two closed shares records, specify a date range of 1/31/91 to 1/31/91 on the Log Maintenance Menu, bring up the Closed Shares Log, and use the Delete Range key. Answer YES to the unsell question.
- The open information from the closed shares records will be combined with the remaining open shares records. The net result is that the closed shares records are deleted, and the three open shares records that you had before the sale are restored.
- The price history record for the selling date is not deleted (since this is a range delete).
- The local security file record is changed back to its pre-sale values, with open shares set to 29.6172, open amount set to $147.00, and open commission set to $3.00.
You can now re-execute the sale at the correct price.
10.2.5 Closed Shares Detail Report
The Closed Shares Detail Report can be printed for the displayed security and selected date range. See Chapter 15 for the format of this report.
10.2.6 Goto Symbol
If you hit the Goto Symbol function key, you are taken to the symbol entry field at the top of the table. The is the same as hitting the Esc key.
10.2.7 Apply Holding Period
If you had an incorrect value for the holding period in the User Settings form at the time you recorded a sale, change it and then apply the new value with the Apply Holding Period function. The holding periods of the displayed records are determined based on the current holding period setting.
The holding period is originally applied and recorded at the time of sale since this value could vary from year to year.
10.3 Distribution Log
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The Distribution Log requires you to enter the symbol of the local security whose distribution records you want to view. If you leave this entry blank, or enter an invalid name, the Local Security Lookup Table pops up. This table is described in Chapter 7. After you enter a valid security symbol, the Distribution Log shows the security's name and the current date or the specified date range. The distribution records are sorted in ascending order by date, and show:
- The distribution Date.
- The Type of distribution.
- The Amount of the distribution.
- The Per Share amount of the distribution.
At the bottom of the table, these values are totaled for the specified date range.
The function keys at the bottom of the screen are:
- Ctrl-F1:Function List - popup a list of functions to choose from.
- Ins:Add - bring up the Record Distribution Form to record a distribution.
- Enter:Change - bring up the Record Distribution Form to change the highlighted distribution record.
- Del:Delete - delete the highlighted distribution record.
- Esc:Exit - go to the symbol field, or exit from the Distribution Log, returning to the Log Maintenance Menu, if you are on the symbol field.
- Ctrl-PgUp:Top - go to the first record.
- Ctrl-PgDn:Bottom - go to the last record.
- F2:Delete Range - delete the displayed range of distribution records.
- F3:Distribution Detail Report - generate the Distribution Detail Report for the displayed local security and date range.
- F4:Goto Symbol - go to the symbol field to enter a different symbol.
- F5:Recalc Per Share - recalculate the per share values for displayed records.
- F10:More - scroll the list of functions.
10.3.1 Add a Distribution Record
If you hit the Ins key to add a distribution record, the Record Distribution Form pops up. The fields in this form are described in Chapter 7. However, you can't go to the Buy Shares Form or Sell Shares Form.
Adding a distribution record is the same as recording a distribution. However, while the Record Distribution Form is accepted repeatedly when reached through the Activity Menu, it is only accepted once when brought up from the Distribution Log.
A price history entry is added.
After entering the distribution, you are returned to the Distribution Log, and the new record is highlighted.
10.3.1.1 Example - Add a Distribution Record
Say you record the following distributions for Local Symbol TEST:
Date Type Amount Per Share
1) 2/01/90 DIV 2.40 0.24
2) 3/01/90 LTCG 0.59 0.03- Two records with distribution information are added to the distribution file.
- Two records containing per share information for the distributions are added to the price history file.
10.3.2 Change a Distribution Record
If you hit the Enter key to change the highlighted distribution record, the Record Distribution Form pops up. The fields in this form are described in Chapter 7.
The fields in the Record Distribution Form are initialized to the record's current values. You can change all of the fields except the security symbol.
The price history entry is deleted, and a new one is added.
After changing the distribution record, you return to the Distribution Log, and the changed record is highlighted.
10.3.2.1 Example - Change a Distribution Record
Using the previous example, say you change the second record's amount and per share:
Date Type Amount Per Share
2) 3/01/90 LTCG 5.73 0.30- The record is changed in the distribution file.
- The old price history record is deleted, and a new one is added for this per share/date.
- Any purchase information created by reinvesting these shares is not modified. You probably need to adjust the open shares record created by reinvesting.
10.3.3 Delete a Distribution Record
If you hit the Del key to delete the highlighted distribution record, the Record Distribution Form pops up. The fields in this form are described in Chapter 7.
The fields in the Record Distribution Form are initialized to the record's current values.
If this was the only activity with this per share/date for this security, then the price history entry is deleted.
After deleting the distribution record, you return to the Distribution Log, and the record after the deleted record is highlighted.
===>>> You shouldn't permanently delete distribution records, since they are used in performance calculations.
10.3.3.1 Example - Delete a Distribution Record
Using the previous example, say you delete the second record.
- The record is deleted from the distribution file.
- The price history record is deleted.
- Any purchase information created by reinvesting these shares is not deleted. You probably need to delete the open shares record created by reinvesting.
10.3.4 Delete Range of Distribution Records
The Delete Range function key allows you to delete the displayed range of distribution records, based on the previously entered date range. You will always be prompted for confirmation, regardless of the Confirm Delete global setting, since many records could be affected.
Any corresponding price history entries are not deleted.
After the deletion, you return to the Log Maintenance Menu.
===>>> You shouldn't permanently delete distribution records, since they are used in performance calculations.
10.3.5 Distribution Detail Report
The Distribution Detail Report can be printed for the displayed local security and selected date range. See Chapter 15 for the format of this report.
10.3.6 Goto Symbol
If you hit the Symbol function key, you are taken to the symbol entry field at the top of the table. This is the same as hitting the Esc key.
10.3.7 Recalc Per Share
The Recalc Per Share function key exists to easily correct a common mistake. Some users don't understand what the Per Share field on the Distribution Form is for, and set it to the reinvestment price. When the meaning of this field becomes clear, there's already a number of incorrectly recorded distributions. This function will go through the distributions, recalculating the per share values and updating the distribution records. The calculated values may not be exact, but will be very close. To get exact values, you must enter the figures from your statements. The recalculation process is slow, but it's easier than doing it by hand.
===>>> Before calculating the values, you can specify whether or not to account for partial distribution periods. Chapter 20 contains details on how the distribution per share value is affected by partial distribution periods.
10.3.7.1 Accuracy
The accuracy of this recalculation process varies. Cash securities and many income mutual funds account for partial distribution periods. For example, if the mutual fund pays dividends at the end of the month, and you make a purchase in the middle of the month, then those shares only receive half of the distribution per share. The result is that you come up with a slightly lower per share figure if you simply divide the number of shares into the distribution amount.
To determine the effectiveness of this feature, I executed it against three years of data for: a stock that pays quarterly dividends, and a mutual fund that pays monthly dividends and bi-annual capital gains distributions. As expected, the results from recalculating the stock exactly matched the actual values. The results from the 42 distribution log entries for the mutual fund varied, but not by much:
- The total per share figure calculated when not accounting for partial dividends differed from the actual total by less than 3.5% (3.2028 actual, 3.0919 calculated). When partial periods were considered, the difference was less than 1.4% (3.2028 actual, 3.2460 calculated). For a three year period, these differences are insignificant.
- Only 2 per share values calculated differed more than 10% from the actual values when not accounting for partial periods. This figure was reduced to 1 when partial periods were considered. The largest difference in both cases occurred on the distribution paid on the large initial investment made near the end of the month.
