Investment Account(s) - Unrealized Gains & Losses - General Journal Entries
I've been reviewing various answers to the Unrealized Gain/Loss Questions but have had difficulty obtaining appropriate results in my QuickBooks (currently 2002 Premier - updating to QB2009). My company purchased Mutual Funds as a "hedge" against minimal bank interest (oops) and now needs to show both actual (Realized Loss) as well as Unrealized Losses for its P/L (Loss) & Balance Sheet (Unrealized Loss or minimal Gain). Dividends & Interest have been "re-invested" but are also Federally Tax Exempt (municipals). How do I book these entries? I am reluctant to move to QB 2009 until my 2008 Accounts are complete (QBP 2002). I've tried numerous ways to create an accurate picture of our year-end holdings, but nothing seems to match. In Quicken it is relatively easy to create a "picture" of current holdings and their 12/31 values, but I can't seem to "translate" that to QuickBooks. Suggestions and examples of debit/credit journal entries would be most appreciated. If necessary I would be pleased to share a private off community email.