Simply Track HOW TO

Simply track stores all your trades in a file, and extension of this file is .std (Simply Track Data File). So First thing you need to do is create a brand new file by going into File->New menu. A file contains multiple portfolios and a portfolio contains individual trades. You would create a new portfolio During the Import or you can create new portfolio by going into Portfolio->new window.

Following diagram outlines pictorial view of files and portfolios

Note: Simply Track comes with sample file called sample.std (you should notice c:\program file\Simply Track\sample.std on Simply Track Title Bar). This File includes sample portfolios. You can use this sample file and portfolios to get familiar with the tool by clicking various menu options. For example you click on Reports->Generate Schedule D to see how the Schedule D is generated for sample portfolio.

Example: If Mr. Trader trades in 3 different accounts at Ameritrade, Fidelity and Brownco then he would go into File->New to create a new file (example: 2004 data) and then he imports his trades into 3 different portfolios named Ameritrade, Fidelity, Brownco.

In a given year most active trades would have hundreds or some even have thousands of trades, we don't except users to enter those trades manually into Simply Track, the Best thing to do is just import them into Simply Track to generate Schedule-D and track your portfolios. The Goal of import is simple, Just save time!. There are 2 ways you can import your trades into Simply Track, either you can export trades from your broker website into Excel, .csv file, Text file format and then import into Simply Track or you can simply cut and paste your trades from Broker website into Simply Track Import window.

During the import you will be asked to provide the portfolio name and data file. The data file format depends on which online broker you use, you may either download a data file containing your trade history or simply copy your trade history right from your web site, Please click on our Import page for specific broker website download instructions.

Important Note: There are 2 things you need to remember during import. One make sure your input file includes your positions held open from the previous tax year; second make sure you include all January trades of following tax year to properly calculate wash sale.

Also note that you can always import new trades into existing portfolios, for example you have one year's worth of trades in 2 different files, and you can import one file at a time into same portfolio.

Example : In our example Mr. Trader would download his trades from Ameritrade , Fidelity, Brownco into 3 different files and Run Simply Track , Then he will go into File->Import option to import his trades into 3 different portfolios one at time and let us assume he imported his trades into portfolio named Ameritrade, Fidelity and Brownco.

After Successfully importing your trades into portfolio make sure your data is correct. Pay attention to Net Gain/Loss column to verify profit and loss for a specific trade. You can sort your trades by name or sell date or buy date. You can right click on any trade to edit the trade. If you click on View->Active trades you should see current holdings. You can switch between portfolios by clicking portfolio drop down menu.

If your data is good then you are ready to click a button to generate Wash Sale Report.

Example: In our example Mr. Trader will validate amounts for each of his trade for accuracy. In the next step Mr. Trader will generate One Schedule-D report from his 3 different portfolios.

After successfully importing you trades, Generating Schedule D report is very simple. Important concept you should understand is Simply track can consolidate all your portfolios into one Schedule D report. Generating One Schedule-D from multiple broker accounts is a Key feature in Simply Track. It important to create one Schedule D report even though you trade in multiple online brokers accounts. Why? To calculate Wash sales accurately you must consider your trades from all your broker accounts.

To generate Schedule D Just click on Reports->Generate Short Term Schedule D Option to generate Schedule D During Schedule D generation you need select List of portfolios you want include in Schedule D report and Make Sure you Check Wash Sale Adjustment Check Box to Generate Schedule D with Wash Sale Adjustments also make sure you provide correct tax year.

After successful completion of schedule D generation you can use simply track to track your portfolio gains and losses day to day bases. To accurately track your portfolio gains and losses make sure you go into portfolio->add Cash Reserve to enter amount of cash you sent to the broker for the current portfolio. Doing this step will allow simply track to accurately calculate things like net/gain loss(%),Current Account Value, Your current portfolio cash reserve etc.