Re: [GNC] Entering Dividend Confusion

2023-01-27 Thread Derek Atkins
Hi,

On Fri, January 27, 2023 9:46 am, xboxboy.mageia+GnuCash wrote:

> I really wish I had access to a FREE, OPEN SOURCE accounting package
> like this 20 years ago!

For the record, GnuCash was around 20 years ago...  :)
Indeed, GnuCash was even around last century!

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

-- 
   Derek Atkins 617-623-3745
   de...@ihtfp.com www.ihtfp.com
   Computer and Internet Security Consultant

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Re: [GNC] Entering Dividend Confusion

2023-01-27 Thread xboxboy.mageia+GnuCash

I just wish to thank everyone for their help again.

I've successfully entered 35+ years!! of dividends, franking credits, 
left over credits, and dividend re-investments, name changes, and 
takeovers for one of my long term stocks.


It all balances perfectly (couple hiccups along the way, but I got them 
sorted)


Thank you all! This has been a multi year project (life gets in the way 
at times), but I honestly see the light at the end of the tunnel.


I really wish I had access to a FREE, OPEN SOURCE accounting package 
like this 20 years ago!


Thank you all. I really, really, honestly appreciate it.

On 24/1/23 13:29, R Losey wrote:

On Sat, Jan 21, 2023 at 3:28 PM flywire  wrote:


R Losey wrote:


You need to make sure that your... stock is set up as an account type of
"Mutual Fund" or "Stock"

No you don't, dividends can be entered into a dividend account like any
other transaction. The main feature of a "Stock" account type  is easier
revaluation of a portfolio, ie what is my portfolio worth on the day prices
were updated. It is also a stock classification feature on the payment.



As I recall, the original question was why the account was missing the
stock and price options.



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Re: [GNC] Entering Dividend Confusion

2023-01-24 Thread Murugan Muruganandam
I refer the following page and have been able to enter without any problems.



https://www.gnucash.org/docs/v4/C/gnucash-guide/invest-dividends1.html
9.8. Dividends - 
GnuCash<https://www.gnucash.org/docs/v4/C/gnucash-guide/invest-dividends1.html>
If the dividend is presented as cash, you should record the transaction in the 
asset account that received the money, as income from 
Income:Dividends.Additionally if you want to tie the cash dividend to a 
particular stock holding then add a dummy transaction split to the stock 
account with quantity 0 price 1 value 0.
www.gnucash.org



if you enter dividend directly outside the stock account, then it will not 
reflect in your Portfolio report.



Saludos Cordiales


Murugan


From: gnucash-user 
 on behalf of 
xboxboy.mageia+GnuCash 
Sent: Sunday, January 22, 2023 9:31 AM
To: gnucash-user@gnucash.org 
Subject: Re: [GNC] Entering Dividend Confusion

Thank you to all who have replied.

I attempted to enter a split transaction in the 'dividend' income page,
and then it vanished: I found it had transferred to the company stock
tab: It appeared to be correct, and the amounts ending up in the correct
accounts :)

So I was able to enter ALL the data for that stock, and then I was even
able to enter the final sale and scrub the account correctly.

I can not express how WILD, FRUSTRATED and angry I was with myself. But
it's now done, and I can always refer to that as a template/transaction
to copy.

Is there a function to 'lock' an account so it can no longer be edited
accidentally?

Thank you everyone, I really, really appreciate your patience and help.

On 22/1/23 18:57, Maf. King wrote:
> On Sunday, 22 January 2023 04:50:47 GMT xboxboy.mageia+GnuCash wrote:
>
>> Thanks: Now which page/account/ledger do I do this on? The dividend
>> income one? the company dividend income one? the company stock one??
>>
> When the dividends are being reinvested automatically, I enter the transaction
> in the relevant stock account.  I just find it easier to see with the number/
> price/value boxes in front of me.
>
> Instead of the usual approach of the cash to buy the shares being transferred
> from Assets:Bank, just transfer from Income:dividend[:etc] and also if
> requited ensure you have the split to show the tax credit too.
>
> HTH,
> Maf.
>
>
>
> ___
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Re: [GNC] Entering Dividend Confusion

2023-01-23 Thread R Losey
On Sat, Jan 21, 2023 at 3:28 PM flywire  wrote:

> R Losey wrote:
>
>> You need to make sure that your... stock is set up as an account type of
>> "Mutual Fund" or "Stock"
>
> No you don't, dividends can be entered into a dividend account like any
> other transaction. The main feature of a "Stock" account type  is easier
> revaluation of a portfolio, ie what is my portfolio worth on the day prices
> were updated. It is also a stock classification feature on the payment.
>
>
As I recall, the original question was why the account was missing the
stock and price options.


-- 
_
Richard Losey
rlo...@gmail.com
Micah 6:8
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Re: [GNC] Entering Dividend Confusion

2023-01-22 Thread Derek Atkins
Hi,

On Sun, January 22, 2023 7:31 am, xboxboy.mageia+GnuCash wrote:
> Thank you to all who have replied.
>
> I attempted to enter a split transaction in the 'dividend' income page,
> and then it vanished: I found it had transferred to the company stock
> tab: It appeared to be correct, and the amounts ending up in the correct
> accounts :)

The reason it "vanished" was because you had no splits tied to the open
account.  So there was nothing holding it to the current view.

>
> So I was able to enter ALL the data for that stock, and then I was even
> able to enter the final sale and scrub the account correctly.
>
> I can not express how WILD, FRUSTRATED and angry I was with myself. But
> it's now done, and I can always refer to that as a template/transaction
> to copy.
>
> Is there a function to 'lock' an account so it can no longer be edited
> accidentally?

Yes.  Mark the account as "placeholder" and you won't be able to add any
transactions or otherwise edit the contents of the account.

>
> Thank you everyone, I really, really appreciate your patience and help.

You're welcome.

Happy Gnucashing!

-derek


> On 22/1/23 18:57, Maf. King wrote:
>> On Sunday, 22 January 2023 04:50:47 GMT xboxboy.mageia+GnuCash wrote:
>>
>>> Thanks: Now which page/account/ledger do I do this on? The dividend
>>> income one? the company dividend income one? the company stock one??
>>>
>> When the dividends are being reinvested automatically, I enter the
>> transaction
>> in the relevant stock account.  I just find it easier to see with the
>> number/
>> price/value boxes in front of me.
>>
>> Instead of the usual approach of the cash to buy the shares being
>> transferred
>> from Assets:Bank, just transfer from Income:dividend[:etc] and also if
>> requited ensure you have the split to show the tax credit too.
>>
>> HTH,
>> Maf.
>>
>>
>>
>> ___
>> gnucash-user mailing list
>> gnucash-user@gnucash.org
>> To update your subscription preferences or to unsubscribe:
>> https://lists.gnucash.org/mailman/listinfo/gnucash-user
>> -
>> Please remember to CC this list on all your replies.
>> You can do this by using Reply-To-List or Reply-All.
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>


-- 
   Derek Atkins 617-623-3745
   de...@ihtfp.com www.ihtfp.com
   Computer and Internet Security Consultant

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Re: [GNC] Entering Dividend Confusion

2023-01-22 Thread xboxboy.mageia+GnuCash

Thank you to all who have replied.

I attempted to enter a split transaction in the 'dividend' income page, 
and then it vanished: I found it had transferred to the company stock 
tab: It appeared to be correct, and the amounts ending up in the correct 
accounts :)


So I was able to enter ALL the data for that stock, and then I was even 
able to enter the final sale and scrub the account correctly.


I can not express how WILD, FRUSTRATED and angry I was with myself. But 
it's now done, and I can always refer to that as a template/transaction 
to copy.


Is there a function to 'lock' an account so it can no longer be edited 
accidentally?


Thank you everyone, I really, really appreciate your patience and help.

On 22/1/23 18:57, Maf. King wrote:

On Sunday, 22 January 2023 04:50:47 GMT xboxboy.mageia+GnuCash wrote:


Thanks: Now which page/account/ledger do I do this on? The dividend
income one? the company dividend income one? the company stock one??


When the dividends are being reinvested automatically, I enter the transaction
in the relevant stock account.  I just find it easier to see with the number/
price/value boxes in front of me.

Instead of the usual approach of the cash to buy the shares being transferred
from Assets:Bank, just transfer from Income:dividend[:etc] and also if
requited ensure you have the split to show the tax credit too.

HTH,
Maf.



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Re: [GNC] Entering Dividend Confusion

2023-01-22 Thread Maf. King
On Sunday, 22 January 2023 04:50:47 GMT xboxboy.mageia+GnuCash wrote:

> 
> Thanks: Now which page/account/ledger do I do this on? The dividend
> income one? the company dividend income one? the company stock one??
> 

When the dividends are being reinvested automatically, I enter the transaction 
in the relevant stock account.  I just find it easier to see with the number/
price/value boxes in front of me.

Instead of the usual approach of the cash to buy the shares being transferred 
from Assets:Bank, just transfer from Income:dividend[:etc] and also if 
requited ensure you have the split to show the tax credit too.

HTH,
Maf.



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Re: [GNC] Entering Dividend Confusion

2023-01-21 Thread xboxboy.mageia+GnuCash



On 22/1/23 08:25, David Cousens wrote:

TIA

For a franked dividend where the net dividend amount is $x and the 
franking

credit is $y, the transaction recording it will be generally of the form

Asset:Bank account Dr $x
Asset:Franking Credits Dr $y
Income:Acme:Dividends Cr $x+$y

Thanks: Now which page/account/ledger do I do this on? The dividend 
income one? the company dividend income one? the company stock one??


I'm so sorry everyone, I just don't understand why I'm having so much 
trouble with this: I've read the guide, watched youtube... but 
everything I try ends up a total mess.


Thanks for your patience.


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Re: [GNC] Entering Dividend Confusion

2023-01-21 Thread David Cousens
Australia has a provision in its taxation law to prevent double taxation of the
component of profits of companies paid out to shareholders as dividends. As
company tax has already been paid on it, the shareholder is credited with a
"franking credit" as part of the dividend which can be used to offset the tax
payable. If the company tax (30%) paid is less than the individual's tax rate,
then they only have to pay the difference between their marginal tax rate and
the company tax. If their tax rate is less than the company tax , they get a
refund of the difference in the tax rates. Companies can choose to pay dividends
from profits before or after the company tax has been paid. If their dividends
are paid out of pre-tax profits, then the shareholder doesn't receive the
franking credit and they pay the full tax rate on the dividend, their dividends
are referred to as unfranked (untaxed).

David Cousens

On Sat, 2023-01-21 at 11:11 -0600, R Losey wrote:
> You need to make sure that your mutual fund or stock is set up as an
> account type of "Mutual Fund" or "Stock" (right-click on the account,
> select "Edit" and find the Account Type in the lower left corner. I don't
> know if it matters, but I always have two-line entry (Preference->Register
> Defaults (check box for Double Line Mode)
> 
> Reinvested dividends are entered on the stock or mutual fund; the company
> should inform you the amount, and the shares reinvested.  So, if you own
> stock XYZ that pays $90 in dividends, reinvested as 3.600 shares at
> $25/share, in the XYZ account, you'd enter the appropriate category (Taxed,
> or Untaxed), and $90 for the amount and 3.600 for the shares (GnuCash will
> calculate the price for you).
> 
> I'm not clear on what a "Tax credit" is - does that mean that they have
> taken taxes out of the dividend... so that, in the example above, you have
> a $90 dividend, but they take $10 in taxes, leaving 80 to be reinvested
> (3.200 shares at $25/share). It would be a similar entry, but I'd use a
> split transaction; in the XYZ account, I'd record a purchase of 3.200
> shares at $25/share for $80, with the taxed dividends being $90 and a tax
> credit of $10.
> 
> Hope this helps.
> 
> On Sat, Jan 21, 2023 at 2:15 AM Gnucash Xboxboy Mageia <
> xboxboy.mageia+gnuc...@gmail.com> wrote:
> 
> > Hi all,
> > 
> > I'm trying to enter dividends, I'm following this video
> > https://www.youtube.com/watch?v=WRNoabz1WSo but his page shows columns
> > with shares/price/debt/credit, but mine has just buy/sell any ideas? How do
> > I get those columns?
> > 
> > I'm in Australia, so I wanted to enter dividend payments as 3 types:
> > Taxed (franked), Untaxed (unfranked) and the Tax credit (input credit),
> > and I reinvest the dividends typically.
> > 
> > Thanks: All advice welcomed.
> > ___
> > gnucash-user mailing list
> > gnucash-user@gnucash.org
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> > 
> 
> 

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Re: [GNC] Entering Dividend Confusion

2023-01-21 Thread David Cousens
TIA

For a franked dividend where the net dividend amount is $x and the franking
credit is $y, the transaction recording it will be generally of the form

Asset:Bank account Dr $x
Asset:Franking Credits Dr $y
Income:Acme:DividendsCr $x+$y

https://www.ato.gov.au/individuals/investments-and-assets/in-detail/investing-in-shares/refunding-franking-credits---individuals/

For a dividend reinvestment the ATO advises  that the dividend is treated first
as income as above and then the net dividend $x is used to purchase n new shares
at a price $x/n.

https://www.ato.gov.au/Individuals/Capital-gains-tax/Shares-and-similar-investments/Dividend-reinvestment-plans/

The Franking credits are a rebate against tax payable on your income and an
individual is generally entitled to a refund of the difference if their franking
credit amount exceeds their tax payable and that is normally done in your
individual tax return. At that point you need  a credit to the Franking Credit
account to zero it out with corresponding entries reducing the tax paid and tor
the tax refund. Companies can turn excess franking credits into a loss carried
forward in most cases (there are rules applying to this).

David Cousens

On Sat, 2023-01-21 at 23:06 +1030, xboxboy.mageia+GnuCash wrote:
> Thanks: That changes the column names when I attempt to enter 
> information by the looks, but I am going in circles here: Stuck in MYOB 
> mode I suspect.
> 
> I'm going to need my hand held I think.
> 
> My income tree looks like this
> 
> Income--->Dividends--->Specific Company Name Dividends->Franked 
> Dividend (ie 30% tax paid)
> 
> -->Input credit (ie. the 30% tax paid above)
> 
> So I'm having trouble even just entering that :( What complicates it is 
> that it is reinvested, so I don't receive a cash payment as such.
> 
> 
> That said, years ago I seem to have had my head wrapped around at least 
> the dividend payment, looking at some old transactions, what I see is a 
> split transaction that looks like this: (for example)
> 
>  Acme Dividend    $127.31 (Tot income)
>  Franked income (Assets:current assets: Bank CD: Smart 
> Access) $89.12 (charge)
>  Input Credit (expenses: Taxes: Franking Credits) $38.19 
> (charge)
>  Acme Dividend (Income: Dividend Income: Acme Dividend 
> Income) $127.31 (income)
> 
> Does that appear correct?
> 
> I've spent weeks trying things, and I am wild with myself that I just 
> can't drop back into it.
> 
> TIA
> 
> On 21/1/23 19:38, David T. wrote:
> > Try using Transaction Journal view mode.
> > 
> > Use separate income accounts for Taxed and Untaxed dividends.
> > 
> > 
> > David T.
> > On Jan 21, 2023, at 11:15, Gnucash Xboxboy Mageia 
> >  wrote:
> > 
> >     Hi all,
> > 
> >     I'm trying to enter dividends, I'm following this video
> >     https://www.youtube.com/watch?v=WRNoabz1WSo  but his page shows columns
> >     with shares/price/debt/credit, but mine has just buy/sell any ideas? How
> > do
> >     I get those columns?
> > 
> >     I'm in Australia, so I wanted to enter dividend payments as 3 types:
> >     Taxed (franked), Untaxed (unfranked) and the Tax credit (input credit),
> >     and I reinvest the dividends typically.
> > 
> >     Thanks: All advice welcomed.
> >     
> > 
> >     gnucash-user mailing list
> >     gnucash-user@gnucash.org
> >     To update your subscription preferences or to unsubscribe:
> >     https://lists.gnucash.org/mailman/listinfo/gnucash-user
> >     -
> >     Please remember to CC this list on all your replies.
> >     You can do this by using Reply-To-List or Reply-All.
> > 
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Re: [GNC] Entering Dividend Confusion

2023-01-21 Thread flywire
R Losey wrote:

> You need to make sure that your... stock is set up as an account type of
> "Mutual Fund" or "Stock"

No you don't, dividends can be entered into a dividend account like any
other transaction. The main feature of a "Stock" account type  is easier
revaluation of a portfolio, ie what is my portfolio worth on the day prices
were updated. It is also a stock classification feature on the payment.

I'm not clear on what a "Tax credit" is

It's a Franking Credit, the tax paid by the company on the dividend is
credited against the tax you owe eg if the company paid 30%  tax on the
dividend and your tax rate is 50% you only pay the extra 20% tax.

>
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Re: [GNC] Entering Dividend Confusion

2023-01-21 Thread R Losey
You need to make sure that your mutual fund or stock is set up as an
account type of "Mutual Fund" or "Stock" (right-click on the account,
select "Edit" and find the Account Type in the lower left corner. I don't
know if it matters, but I always have two-line entry (Preference->Register
Defaults (check box for Double Line Mode)

Reinvested dividends are entered on the stock or mutual fund; the company
should inform you the amount, and the shares reinvested.  So, if you own
stock XYZ that pays $90 in dividends, reinvested as 3.600 shares at
$25/share, in the XYZ account, you'd enter the appropriate category (Taxed,
or Untaxed), and $90 for the amount and 3.600 for the shares (GnuCash will
calculate the price for you).

I'm not clear on what a "Tax credit" is - does that mean that they have
taken taxes out of the dividend... so that, in the example above, you have
a $90 dividend, but they take $10 in taxes, leaving 80 to be reinvested
(3.200 shares at $25/share). It would be a similar entry, but I'd use a
split transaction; in the XYZ account, I'd record a purchase of 3.200
shares at $25/share for $80, with the taxed dividends being $90 and a tax
credit of $10.

Hope this helps.

On Sat, Jan 21, 2023 at 2:15 AM Gnucash Xboxboy Mageia <
xboxboy.mageia+gnuc...@gmail.com> wrote:

> Hi all,
>
> I'm trying to enter dividends, I'm following this video
> https://www.youtube.com/watch?v=WRNoabz1WSo but his page shows columns
> with shares/price/debt/credit, but mine has just buy/sell any ideas? How do
> I get those columns?
>
> I'm in Australia, so I wanted to enter dividend payments as 3 types:
> Taxed (franked), Untaxed (unfranked) and the Tax credit (input credit),
> and I reinvest the dividends typically.
>
> Thanks: All advice welcomed.
> ___
> gnucash-user mailing list
> gnucash-user@gnucash.org
> To update your subscription preferences or to unsubscribe:
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>


-- 
_
Richard Losey
rlo...@gmail.com
Micah 6:8
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Re: [GNC] Entering Dividend Confusion

2023-01-21 Thread xboxboy.mageia+GnuCash
Thanks: That changes the column names when I attempt to enter 
information by the looks, but I am going in circles here: Stuck in MYOB 
mode I suspect.


I'm going to need my hand held I think.

My income tree looks like this

Income--->Dividends--->Specific Company Name Dividends->Franked 
Dividend (ie 30% tax paid)


-->Input credit (ie. the 30% tax paid above)

So I'm having trouble even just entering that :( What complicates it is 
that it is reinvested, so I don't receive a cash payment as such.



That said, years ago I seem to have had my head wrapped around at least 
the dividend payment, looking at some old transactions, what I see is a 
split transaction that looks like this: (for example)


    Acme Dividend    $127.31 (Tot income)
    Franked income (Assets:current assets: Bank CD: Smart 
Access) $89.12 (charge)
    Input Credit (expenses: Taxes: Franking Credits) $38.19 
(charge)
    Acme Dividend (Income: Dividend Income: Acme Dividend 
Income) $127.31 (income)


Does that appear correct?

I've spent weeks trying things, and I am wild with myself that I just 
can't drop back into it.


TIA

On 21/1/23 19:38, David T. wrote:

Try using Transaction Journal view mode.

Use separate income accounts for Taxed and Untaxed dividends.


David T.
On Jan 21, 2023, at 11:15, Gnucash Xboxboy Mageia 
 wrote:


Hi all,

I'm trying to enter dividends, I'm following this video
https://www.youtube.com/watch?v=WRNoabz1WSo  but his page shows columns
with shares/price/debt/credit, but mine has just buy/sell any ideas? How do
I get those columns?

I'm in Australia, so I wanted to enter dividend payments as 3 types:
Taxed (franked), Untaxed (unfranked) and the Tax credit (input credit),
and I reinvest the dividends typically.

Thanks: All advice welcomed.


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Re: [GNC] Entering Dividend Confusion

2023-01-21 Thread David T. via gnucash-user
Try using Transaction Journal view mode. 

Use separate income accounts for Taxed and Untaxed dividends.

⁣
David T.​

On Jan 21, 2023, 11:15, at 11:15, Gnucash Xboxboy Mageia 
 wrote:
>Hi all,
>
>I'm trying to enter dividends, I'm following this video
>https://www.youtube.com/watch?v=WRNoabz1WSo but his page shows columns
>with shares/price/debt/credit, but mine has just buy/sell any ideas?
>How do
>I get those columns?
>
>I'm in Australia, so I wanted to enter dividend payments as 3 types:
>Taxed (franked), Untaxed (unfranked) and the Tax credit (input credit),
>and I reinvest the dividends typically.
>
>Thanks: All advice welcomed.
>___
>gnucash-user mailing list
>gnucash-user@gnucash.org
>To update your subscription preferences or to unsubscribe:
>https://lists.gnucash.org/mailman/listinfo/gnucash-user
>-
>Please remember to CC this list on all your replies.
>You can do this by using Reply-To-List or Reply-All.
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