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TD Ameritrade Corporate Brokerage Account in QBO

Hello,

 

I have an S Corp that with the exception of the corporate brokerage account is very simple to do bookkeeping for.

We have an operating account that all the revenue flows into, and a handful of expenses get paid out of.

 

We have a corporate credit card that pays for our main COGS from one vendor.

 

We have a second corporate credit card that pays for our second COGS from 3 different vendors, as well as the bulk of the other expenses.

I pay myself a w2 salary and then the rest of the money flows through to a TD Ameritrade Corporate Brokerage Account.

 

TD Ameritrade doesn't have a syncing feature but the account is a substantial portion of the company's assets and I am unsure of how to have the account added, or how to categorize the transfers in the main checking account that go to the TD Ameritrade Account.

Any help on how this would be done?

 

Thank you!

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Re: TD Ameritrade Corporate Brokerage Account in QBO

I doubt you can sync a broker account into QB - so you will have to post the transactions from that account manually.

For tracking a broker account in QB there are a lot of issues and options that will arise.  Your broker will always report market value, but for you Book Value (cost) is more important.  You may chose to record the individual security details in QB, or you can just record the account value totals. 

I have used both Bank type accounts and Current Asset type accounts for broker accounts - either can work. You will likely need at least 2 of these accounts - one for BookValue and another for Unrealized (if you book and track Market Value).

When recording income from your stocks you should create separate accounts and items for Interest, Dividends, CapGains and 'Distributions'.  Income can be recorded on a QB 'sales receipt' each month based on the broker statement - either with details or just the totals. 

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