need to clarify about t+3, page-12

Whitewolf sorry in the delay... Yes i ment spreadsheet not speetsheet. lol my bad.



Ok so what we have above is a trading account from 28-Jul to 10-Aug of last year. Pretty basic sort or arrangement, Date, Action, Code, Units, Price, Brokerage, Cost, Settlement and a running balance of current debits/credits.

Remember this is with Comsec, so it goes on the rules of T+1 for buying and T+2 for sellings etc... as stated above in my post

Normally in a spreadsheet you would just have the one column for the running balance, ive just made it like that so its easier to see. Each new column shows the newly figures after you have paid or Comsec has paid you.

So the spreadsheet is quite simple, place in all your trades for the day (copy from Comsec contract notes; obviously do your own calculations also for double checking) At the end of each day "bold" the final figure. That is what is currently owed/paid as at that settlement day.

So first up, all transactions for the 28th have netted you $1,562.30. 29th netted you $10,398.34 ($11,940.64 overall) 30th netted have netted you $1,893.36 (overall $13,854.00).

What i've found with Comsec is that if you have 3 or more consecutive "owing to you days", you'll be paid the first one. So pretending today is 31st Comsec will pay you $1,562.30. Delete this figure and all figures above the figure to show a newly running balance tally. (eg: column 2)

Next day 3-Aug you have a day where you now owe Comsec $14,078.05, due to the fact of buying 20K worth of stock. Once again you have 3 consecutive days of owing to you so you'll be paid $10,398.34. Once again delete this figure and all figures above the figure to show a newly running balance tally. (eg: column 3)

4-Aug you owe Comsec a further $64.80 ($24,541.19 overall owed to Comsec). Also today is a settlement day for $1,893.36, Comsec though are not going to pay you cause they are going to use this figure to offset the money you owe them the following business day.

5-Aug trading has netted you close to $8,000 today (overall you owe Comsec $16,466.16). Settlement today is going to cost you $4,586.54 today, cause you have more than 2 consecutive days owing to them. Delete this figure and all figures above the figure to show a newly running balance tally. (eg: column 4)

6-Aug trading has netted you $10,114.48 today, (overall you owe Comsec $1,765.14). Once again settlement day is due, cause you have another 2+ consecutive days owing to Comsec. You now pay them $19,889.85. Delete this figure and all figures above the figure to show a newly running balance tally. (eg: column 5)


7-Aug trading has cost you $19,829.95 today (overall you owe $1,705.24). Settlement day today of $64.80 to Comsec isnt going to happen cause they will offset that payment to the amount they owe you the next business day.

10-Aug trading has netted you $20,208.32 (overall Comsec owes you $18,503.08). There is a settlement today, you are in favor of $8,010.23 but this isnt going to be paid cause even though tomorrow(11th) you have in favor once again to yourself a total of $18,124.71, you owe Comsec on the 12th $1,705.24. Which is using the sell then buying offset rule of a T+2.

11th-12th-13th you don't trade Comsec now will settle with a $18,503.08 payment to you. Delete this figure and all figures above the figure to show a newly running balance tally etc...

I guess after reading all that, the 2 main points are if your going to keep a running balance and trade of a T+1 bases, if you see 3 bold black figures you'll be paid the first one. If you see 2 bold red figures you need to make sure that amount is within the account Comsec is going to withdrawl the funds from, otherwise you are going to be hit up with a rejection fee. If your figures go from red black red black red black red black red black red black red black red black red black red black at the end of each settlement day, you will neither have to pay or be paided until either 2 consecutive red's or 3 consecutive black's. Note: this is only if a settlement day is the following day, if its in 2+ more days time obviously this MAY not be correct.

I hope i havent confused you, i know it sounds confusing but once you know whats happening its a breeze to understand.

Disclaimer: Please don't take this as how Comsec actually operates, this is only how i've interperated it since being with them for 3yrs.

Formula:
Running balance =

@ or = IF(C3="B",K2-H3,K2+H3) = in cell K3 (first running balance figure)
@ or = IF( Action ="B", RunningBalanceCellUp1 - TotalCost , RunningBalanceCellUp1 + TotalCost)

You can then just copy this formula and paste below(K4) and onwards in the K column.

Cheers Mark