Steps when switching brokers - change broker - new broker - change brokerage

The first thing we suggest is to set up a new cash account. This makes keeping track of which transactions happened at which broker, a little bit easier.

Go to Accounting > Cash Accounts > Create a new cash account. Enter the account name, and click Submit. You can now enter transactions for that new account.
As well, if this is the primary account your club will be using, we suggest to click *Make Default*, so the site will select this account by default for new transactions.

If your club had fractional shares at the old broker, those will usually be sold off, as part of the transfer from one broker to another. This can be handled as a Sell transaction; enter a Sell on the date of the transfer, for the fractional shares the club held. If you set up a separate cash account for the new broker, direct the money there.

Next, go to Accounting > Cash Accounts > Transfer, and enter a transfer of any other money moved from the old broker to the new one, or to a separate account if the broker sent a check or transferred to a different account.

Once the cash account at the old broker is at zero, you can make it inactive. Go to Accounting > Cash Accounts, and on the Account Summary page, click to put a check-mark next to the account listing, in the Mark Inactive column. Click *Submit*, and that account will no longer show up as an option when entering transactions. You will still be able to check old transactions made with that account, but marking it inactive will make sure it doesn't get used accidentally for new transactions.