Jump to a section
Before you record a move
Have both account statements ready, with the posting dates, currencies and the actual cash or security amounts. An internal transfer is not investment performance, salary, or a new expense simply because it appears in a bank feed.
1. Trace a cash deposit
- Find the outgoing transaction in the sending cash account.
- Find the incoming amount in the receiving brokerage account.
- Confirm the destination account’s cash balance reflects the deposit only once.
- If both sides exist as transactions, link or categorize them as a transfer where that workflow is available; do not categorize the incoming side as earned income.
Example (illustrative): Moving $1,000 from chequing to brokerage should reduce chequing cash by $1,000 and increase brokerage cash by $1,000. Your combined wealth does not increase by $1,000.
2. Separate cash from securities
When a purchase converts $600 of brokerage cash into $600 of securities (excluding fees or price movement), the cash position goes down while invested holdings go up. Do not add the purchased securities and also leave the $600 in idle cash.
An in-kind transfer moves holdings between accounts. Check the source and destination positions and do not interpret the moved market value as a contribution or realized investment return. Cost-basis handling may require manual verification.
3. Check currency on both sides
For a USD transfer, preserve the currency of the source amount and the destination amount. A CAD-equivalent portfolio display can move with exchange rates even when the USD cash quantity does not. Record FX conversion and fees separately when applicable.
4. Investigate unexpected total changes
- Brokerage cash and an imported cash transaction were both added as assets.
- A transfer was treated as a new income item.
- A sale reduced holdings but the resulting account cash was not updated.
- Market values are being compared against a statement from a different date.
Next: check brokerage cash and interpret performance charts.
Want the bigger picture? Explore the Personal, Portfolio and Business product tour →