One of the recent most-voted feature in Friends of SGXcafe is having a cash component to track your cash balance. It is a seemingly easy feature, but was actually tedious to implement because it intertwines with several other existing components in SGXcafe.
What is Cash Balance?
Easily track the amount of cash you currently have on hand after you buy or sell stocks, receive dividends, or deposit or withdraw funds from your trading account.
Quick Guide to Using Cash Balance:
1. Enter the amount of cash you presently have into your portfolio to kickstart the tracking.
2. When you add a new portfolio transaction, there is a “Add to Cash Transactions” option. Select this option and the new balance will be automatically updated for you.
3. For all stocks that you hold (including those before Cash Balance came along), dividends are automatically added to your balance on the pay date.
The above is a simple guide which should be able to get you started.
For those interested in more details, here is a more in-depth explanation of the Cash Balance feature:
1) Firstly, to be aligned with other components of SGXcafe, Cash Balance also supports multiple portfolios. You can have a separate Cash Balance for each portfolio.
2) You can view details of the cash transactions and also remove certain cash transactions if you want to here.
3) You can edit past portfolio transactions to be linked to a cash transaction. Once they are linked, whenever you update the portfolio transaction, the associated cash transaction will also be updated automatically.
4) For users who perform dividend overrides, when you add collected dividends, you now have the option to also add it as a cash transaction. If the dividend override is updated, the associated cash transaction will also be updated accordingly automatically.
5) From today onwards, at around 12am Singapore time every day, dividends that are known to be paid that day will be automatically added to your cash transactions.
6) These automatically-added dividends associated cash transactions will be ignored if you have a corresponding dividend override that removes that collected dividend.
I understand that at first glance, this might be too much to take in, but as you use the Cash Balance feature, you should be able to better understand how it works. As usual, feel free to feedback to me about this feature!
p.s.: Feeling so proud of Joseph Schooling!