Working With Multiple Libraries

Right off the bat, let’s set the record straight. A LIBRARY should not be confused with a PORTFOLIO. A Toolkit 4 library is an individual “database” that can contain as many portfolios as you wish.

A single library can contain, but is not limited to, a personal portfolio, a 401K portfolio or a club portfolio. Portfolios may be created for “Stocks to Watch” or for “Industry” and is only limited by your imagination. Portfolios are populated with stocks that are saved in the “Stock Library – All saved stocks”. To add stocks to a portfolio simply drag a stock from the “Stock Library” and drop it into the “Portfolio Holdings” panel. You can add the same stock to as many portfolios as you wish.

If that’s true then why the need for multiple Libraries?

One good reason is having the ability for club members to share a club’s library and not have it interfere with the personal library that is normally used. Libraries are uniquely named and carry the extension “.MDB”. Tookit 4’s default Library is TK.MDB.

To facilitate the use of multiple Libraries the first thing you have to do is make sure you have a check mark in the “Show Advanced Library Options” box in the PREFERENCES | GENERAL screen. That will place a “Library” option on the menu bar.

Library option will then allow you to click on Library Manager. The Library Manager dialogue box will open.

A click on the “Open a previously created Toolkit library” button will expose the “Locate Toolkit Library” box where you can navigate to the location of your Toolkit 4 libraries, usually the Toolkit 4 folder. That’s where you to select the Library you wish to open

That brings us to creating a new Library.

To create a new library click on the button “Create a new blank library. Toolkit will use the blank library” (See above). A dialogue box will open that is similar to the “Locate Toolkit Library” box also shown above, only this time the box is named “Create New Toolkit Stock Library As:”. In this box, in “Look in”, you’ll locate the new Library, I suggest “Toolkit 4”. You’ll also name the new Library in the “File Name” box, and in the “Files of type” box you’ll use the default, “Toolkit Database”. A click on the “Open” button will save the newly created Library that will now be the Library Toolkit 4 will use until changed. It is important to note that any price and data updates will only affect the current Library in use. Also, when using the Backup Database feature, only the Library currently in use will be backed up.

To revert to the Library that you normally use simply click on the “Open a previously created Toolkit library” in the Library Manager dialogue box and select the default TK.MDB.