Extract costs and taxes as separate transactions
You can extract specific costs and taxes from transactions into separate transactions. This allows you to:
Create payment instructions based on the extracted costs to transfer brokerage fees or other transaction-related costs.
Create payment instructions based on the extracted taxes to transfer stamp duties or other transaction-related taxes.
Keep track of transaction-related costs in a separate fee portfolio.
Setting up
Define which costs you want to extract and which transaction types to use for the extracted costs.
Go to Tools → Administer → Data aggregation and select the Extraction of costs tab.
Fill in the fields:
- Tax type to transaction type mapping
- Cost type to transaction type mapping
- Portfolio for created transactions
- Tax 1, Tax 2, Cost 1, Cost 2
- Create transactions as hidden
- Tag for created transactions
- Tag for processed transactions
Click Done
Extracting costs from transactions
Once you completed the initial setup, you can create cost transactions automatically by following these steps.
Go to the Transactions view and search for the transaction whose costs you wish to extract.
Click Extract costs as separate transactions at the bottom of the view.
Cost transactions appear in either the same portfolio as the original transaction or in the target portfolio you defined in the settings.