I uploaded the spreadsheet I've been using and a python program I wrote to
https://github.com/flywire/ETF-Annual-Statement
It's basically just a lookup and pivot table saved to csv using rounding as
an error check (credit to Chris Grinton). It could easily be extended to
automatically extract the
One of these years I'll find time to rewrite that chapter. I don't know of any
case where someone in GnuCash's target user base of individuals and very small
companies would need to book unrealized gains that way; mostly only big
financial companies need to do that.
The normal way of tracking
This Account Summary demonstrates the last part of the need to distribute
all [Family] Trust income from the ETFs.
Note:
1. ETFs have been manually revalued at the end of the tax year (after
working through
https://www.gnucash.org/docs/v4/C/gnucash-guide/chapter_invest.html )
2. Distributions
Re "the attribution values [...] don't exist in the [...] tax return": On
the contrary, the attribution values from Part B are exactly what drives
the values that end up at the various labels in the Australian tax return
as detailed in Part A of the AMIT statement. I don't think you'll get away
Thank you for the discussion. To clarify, these ETFs are index funds:
https://www.vanguard.com.au/personal/invest-with-us/etf?portId=8205=prices-and-distributions
I don't see the point of entering the attribution values since they don't
exist in the bank statement or tax return.
A contra account
Hi flywire,
A couple of comments before I get into the meat of my response:
- What you're asking about here is somewhat specific to Australia, and
the details may not be applicable to other jurisdictions.
- I'm not an accountant, so I'm not sure how an accountant would respond
to
> On Aug 11, 2022, at 6:06 AM, flywire wrote:
>
> It's tax time again and I'm wondering if I can improve on the process I
> described in
> https://lists.gnucash.org/pipermail/gnucash-user/2021-August/097424.html
>
> It works and keeps my accountant happy but it just doesn't seem to sit well
I've finally figured it out, one of those John Ralls comments that leaves
you scratching your head.
Anyway, with covid and all, I'm starting to understand a bit more about the
accounting side of shares. Apparently, dividends and distributions are
different
Looks like it needs a Dividend contra account which should cancel itself
out or be ignored in reporting:
Dividend Date Deposit into Bank account from Dividend account
End Previous Year Date Deposit into Dividend account from Component splits
>
___
In Australia ETFs operate under a trust structure, so distributions
received in the new fiscal year are income for the previous tax year. Being
tax, there are many splits associated with each transaction. (Essentially,
if the year was changed to the previous fiscal year it would be reported
for
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