Hello, xboxboy.magela:
You ask how to account for the $2 that has "vanished". This jumps out at
me as the core of the problem:
Dividend (franked): Dividend reinvestment account $10
Buy: stock purchase: 1 unit $8, total buy $8
If your dividend after franking is $10, and you buy stock for $8, then
there should be $2 cash left over. You do not show that left over cash
in your transaction. Where does that money go in real life? Add a line
for that in your transaction, and it should balance.
Does this answer your question?
Best regards,
—Jim DeLaHunt, Vancouver, Canada
On 2023-06-07 08:01, xboxboy.mageia+GnuCash wrote:
Hi guys,
My issue is this: I'll provide an example: Note, I'm in Australia, so
we have franked (taxed) dividends that we claim a tax break on.
Total dividend $12; made up of
Franked dividend $10
Imput credit (tax credit) $2
(So in this example $2 is paid to the tax office by the company, and I
receive only $10)
But I reinvest this dividend: Say the shares are $8.
That means with my $10, I can get 1.25 shares, but it gets rounded
down/up to the nearest share.
So I get one share for a cost of $8.
So normally I'd enter it like this:
Expense: tax credit $2
Dividend (franked): Dividend reinvestment account $10
Buy: stock purchase: 1 unit $8, total buy $8
Total dividend income $12
Cost of share(s) $8 (normally from that dividend reinvestment account)
(but now I'm $2 unbalanced)
How do I account for the $2 that has now 'vanished'. With my other
companies, this amount gets put into an account, and I get to apply it
to the next dividend. But with this company, they don't do that, the
amount is simply 'gone'.
Hope that makes sense, any ideas most appreciated,
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