Remark 7221 - Not Enough Shares Available to Record Transaction

Considerations

When recording/importing trades, GainsKeeper compares the trades you are trying to enter, with those prior to the trade date in error. For every sale you are trying to record, there has to be enough shares purchased for that sale to be matched against and processed. If there are not enough shares available, GainsKeeper cannot process the sell transaction, nor calculate gain/loss information.

If this remark displays, it means that there are not enough shares in your portfolio to close this position. Please confirm your historical trades from GainsKeeper's trade log with those from your broker. Some of the common reasons that this remark might display include:

Please contact GainsKeeper support if your historical trades reconcile and this remark still displays.

 

Procedure

To record this transaction:

  1. Be sure to record your 'baseline' holdings as of the end of the previous tax year. For example, if you are importing/recording your 2003 transactions, did you own any open positions as of 12/31/2002? If you did, the first step is to enter those 'baseline' positions by using GainsTracker>Record Trades>Stock/Mutual Fund/Option/Bond/Other>Buy or Adjusted Lot for old positions. Take your brokerage statement and manually enter all open positions into GainsKeeper by using Record Trades in GainsTracker and then you will be able to successfully process your sell transactions.

  2. Ensure you are recording this trade in the appropriate brokerage account in GainsKeeper. The most direct way to record trades in a particular account in your GainsKeeper portfolio is to click the Add link to the far right of your brokerage account on the Portfolio Overview page.

  3. View previously recorded/imported transactions in the GainsTracker>Trade Log or Symbol Details feature to confirm the accuracy of those transactions.

  4. Check the transaction type, should this trade be a short sale (e.g. SellShort or SelltoOpen)? When importing short and cover trades, they should be denoted by using the transaction type 'SellShort', 'SelltoOpen', and 'CoverShort', 'BuytoClose', or they can be manually entered from the Short sale and Cover Short transaction pages.