Position Manager will eventually import comma-separated-variable (.csv ASCII format) records from various programs or brokerage services into an existing position list. ScotTrade is the first brokerage company for whom CSI has customized this software. Additional services will likely be added.
If you have a data file from ScotTrade or another company that contains appropriate information, you may import it using either the First In First Out (FIFO) or the Last In First Out (LIFO) accounting protocol.
To import a file, click Position Manager's File menu and go to "Import Trades." All available importing sources will display (initially just ScotTrade).
Move the pointer to your choice and you'll be offered "FIFO" (First In First Out) and "LIFO" (Last In First Out). Significant tax ramifications can occur, depending upon your choice here. Furthermore, changing from one method to another may violate IRS regulations. The US Internal Revenue Service defaults to LIFO (maximal short-term capital gains), so this is probably your safest option. Please consult a qualified tax professional for assistance.
A dialog screen appears from which you may select or browse to the desired file as shown:
Select the file that holds your trade records. When it is listed in the "File name" box, click [Open].
When all records are input, you may set your preference for viewing positions.