HI guys, I got several stocks all entered in now: Really happy with how that's gone.
Now I'm tripped up on a bonus issue of shares. For some reason I'm lost one how to enter these bonus shares that cost zero. I enter in 16 new shares to the correct asset/stocks/sharecode account, but even when I put zero as the cost, automatically a value of 1 appears on the next line of the split: I am unable to remove this 1. These shares were a bonus, with zero cost to the holders. Any ideas? Thank you. Xboxboy On Sun, Jan 20, 2019 at 6:46 PM Xboxboy Mageia <[email protected]> wrote: > > > On Mon, Jan 7, 2019 at 6:46 AM David Cousens <[email protected]> > wrote: > >> Hi, >> >> The brokerage charges usually come on top of the share price as a service >> fee charged to your brokerage account. I would >> use the gross pricing method as the expenses will be deductible as >> brokerage fees and you would use the share price and >> number to calculate the capital gains nott the nett price. GnuCash's >> The transaction to record this is: >> >> Asset:Bank Cr 2935.35 >> Asset:Shares 500@$5.01 Db $2880.75 >> Expenses:Shares:Brokerage Db 54.60 >> >> >> Unless you are registered or required to be registered for GST then you >> can ignore the GST. If you are close to the >> turnover threshold for GST registration with your share trading (or >> combined turnover if you operate other enterprises >> as the same entity), it would probably pay to start to track GST so you >> know when you go over the threshold. >> >> https://www.ato.gov.au/general/capital-gains-tax/shares,-units-and-similar-investments/shareholding-as-investor-or-share-trading-as-business-/ >> , >> >> https://www.ato.gov.au/Business/GST/In-detail/GST-issues-registers/Financial-services---questions-and-answers/?anchor=a4_6 >> . You can also register under the threshold and claim GST credits, but it >> is optional then. >> >> The brokerage fees etc will of course be deductible against any income >> which is the main reason for recording them. You >> also have the correct value for CGT calculations in Australia which is >> not the nett price. >> >> Please CC [email protected] in all replies to ensure the full >> conversation appears on the list >> >> >> David >> >> >> >> >> On Sun, 2019-01-06 at 17:41 +1030, Xboxboy Mageia wrote: >> > >> > >> > On Sun., 6 Jan. 2019, 3:15 pm Xboxboy Mageia <[email protected] >> wrote: >> > > >> > > On Sat, Jan 5, 2019 at 11:35 PM David Cousens < >> [email protected]> wrote: >> > > > XboxBoy >> > > > >> > > > I've done this recently with a superannuation pension fund. I had >> initially >> > > > entered an Opening Balance from mid last year and the transactions >> forward >> > > > from that. I already had data for the pension payments entered as >> income >> > > > (not taxable in my case for this fund which is taxed in the hands >> of the >> > > > fund administrator), but not the fund itself as an asset and the >> investment >> > > > returns and fees charged, payments to me out of it etc. I took it >> back six >> > > > months at a time using the six monthly statements/transaction >> records I had >> > > > on file. Just changed the date on the opening balance transaction >> to the new >> > > > starting date and the balance at that date, then entered the >> investment >> > > > returns, fees pension payments etc between the new opening balance >> date and >> > > > the previous one. Checked that the opening and closing balances for >> that >> > > > period still agreed with my statements. >> > > > >> > > > I had to do a bit of trickery as I receive the pension payments >> paid >> > > > directly into my bank account from the fund administrator. To be >> able to >> > > > reconcile that with the bank statements, I could not record my >> pension >> > > > payments simply as decreases (credits) to the fund and increases in >> my bank >> > > > account. I set up a separate Income and Expenses account to record >> the >> > > > Investment return to the fund and expenses associated with that. An >> > > > additional Expenses account recorded the pension payments as >> decreases >> > > > (credits) to the asset account for the fund. My entries for the >> pension >> > > > payment are a bit complex. a 4 way split records both the payment >> into my >> > > > bank account as income and the reduction in the asset value as an >> expense >> > > > against the fund. >> > > > >> > > > Asset:Bank >> >> > > > Db xxxx >> > > > Income:non-taxablePension >> >> > > > Cr xxxx >> > > > Expenses:non-taxablePensionFund:pensionPayments Db xxxx >> > > > Asset:non-taxablePensionFund >> >> > > > Cr xxxx >> > > > >> > > > where xxxx is the pension payment I receive from the fund. >> Recording the 6 >> > > > monthly investment returns looked like: >> > > > >> > > > Asset:non-taxablePensionFund >> Db >> > > > nett investment return >> > > > Expense:non-taxablePensionFund:Fees&Taxes Db fees >> and taxes >> > > > Income:non-taxablePensionFund:InvestmentReturn >> >> > > > Cr Gross invetment return >> > > > >> > > > Once your back to the original purchase transaction and have >> entered it you >> > > > can then delete the opening balance transaction for that stock >> completely. >> > > > Once I had it all in, I reconciled it forward against the >> statements to >> > > > check I had it right. As others have noted you have to be careful. >> If you >> > > > are in Australia, you aren't taxed on unrealized gains/losses. You >> can still >> > > > track them in an equity account though if you have access to the >> historical >> > > > price information. >> > > > >> > > > Regards >> > > > >> > > > David Cousens >> > > > >> > > > >> > > > >> > > > ----- >> > > > David Cousens >> > > > -- >> > > > Sent from: >> http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html >> > > > _______________________________________________ >> > > > gnucash-user mailing list >> > > > [email protected] >> > > > To update your subscription preferences or to unsubscribe: >> > > > https://lists.gnucash.org/mailman/listinfo/gnucash-user >> > > > If you are using Nabble or Gmane, please see >> https://wiki.gnucash.org/wiki/Mailing_Lists for more information. >> > > > ----- >> > > > Please remember to CC this list on all your replies. >> > > > You can do this by using Reply-To-List or Reply-All. >> > > >> > > Thank you for all your replies. I haven't studied each in detail, but >> my suspicions are confirmed: Gnucash is >> > > flexible enough I can work what ever way, works for me. >> > > >> > > Looking at the tutorial guide again: I would like to track my capital >> gains/losses, so I believe I need to use the >> > > net pricing method? >> > > >> > > The way I understand this is for example: >> > > I have one stock: Total cost of purchase: $2,935.35 >> > > Consisting of: >> > > 575 shares @ $5.01 = $2,880.75 >> > > Brokerage of $54.60 (GST of $4.96 but as an individual I can't claim >> this so I imagine I disregard this, and claim >> > > the total brokerage cost as an expense??) >> > > >> > > So in the tab, I enter the cost as $2,880.75, >> > > the brokerage cost appears out of the account that purchased the >> shares? >> > > >> > > Apologies if my terminology is a bit muddled. >> > > >> > >> > After reading the buying shares section several times,I believe I was >> wrong. I want to be using gross pricing. >> >> > Thanks all. I reckon I understand how all that works now. > > As for entering in my dividend income, with franking credits, I've > attached a picture of how I've set one company up: I'm pretty sure I've got > it looking right, but open to any suggestions. > _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
