Feature Request: Percentage Ownership of Accounts

[CaptainCodeman]

Describe the feature

Allow defining the percentage of an asset or debt to be used in the net-worth calculation (default to 100%)

Why is this feature important?

When tracking account balances it isn't always the entire value that is owned or owed so using the entire amount when calculating net worth can be incorrect. As an example, imagine someone with 50% ownership in an asset or business, being able to track the balance as reported is easier than manually halving everything, but you might only want 50% of the asset to be factored into the net-worth.

Additional context, screenshots, and relevant links

No response

[zachgoll]

@CaptainCodeman I think for assets, this will be handled via "Holdings" that an account owns where you can define how many "shares" or "units" you own of a specific asset.

For business ownership, I'm curious—why not just create a manual asset set equal to value you own of it?

I think the idea is good, but just want to make sure I understand the specific use-cases here.

[CaptainCodeman]

The reason to have the system do it is to save me from having to do any math, LOL

At some point I imagine the intention is to have account balances populated automatically, but even without that it's much easier to just update a balance to match what's on a bank statement or portal without having to get a calculator out and start working out what the percentage of it is. Same of other assets that could be part owned such as cars or houses.

It's more about setting the balance of an account to the actual balance of that account, or latest value of an asset. And then have the system include the appropriate fraction when calculating the net worth.

[zachgoll]

@CaptainCodeman yes I agree, that makes sense. We should always be setting the account balance equal to what's showing in the original source (bank account, trading account, etc.)

So my guess is that you have some sort of "authorized user" login to a shared business bank account? If possible, could you give me a super specific example that we could work with? (i.e. "My business partner and I share a business bank account in a business where I own 65%")

[CaptainCodeman]

Yes, that's exactly the use case: it could be a % ownership of a business, so the bank account / investments / crypto that business owns, or I could see people having part ownership of a house or other real-estate from divorce, inheritance, joint-venture or whatever.

It's definitely easier to use the full amount when updating account balances manually (and would be the only option if using an API) but it distorts any net-worth total and the asset / liability totals if the entire amount is included in them.

The specific case for me is 50% ownership of a company so I want to include that % of the bank account and investment account balances that the company owns.

[zachgoll]

Got it. Yes, I think long term this feature will make it into the app, but as we're working on a lot of the core flows right now, this probably will have to be backlogged for a bit until we have a more solid account model that we can apply these adjustments to.