On 20/04/12 23:16, Jack wrote:
On 2012.04.20 15:16, Allan wrote:
On 20/04/12 19:02, Jack wrote:
I have a dividend reinvestment transaction which I cannot find a way
to enter. My broker (Merrill Lynch) includes a partial share purchase
in the value of the transaction, but only indicates the whole number
of shares purchased. I normally use a category of "partial share
purchase" to account for the difference between the cost of the whole
shares purchased and the full amount of the dividend. I just use "add
shares" when the partials are enough for them to credit me with
another whole share. However, today I have a dividend which is only
enough for a partial share. The "reinvest dividend" transaction will
not allow 0 shares. The "dividend" transaction will not allow 0 as
the total value ($.54 for dividend and -.$54 for partial share
purchase). I want to record the dividend, but there is no change in
number of owned shares or in the balance of the brokerage account. Is
there any way to do this? I don't really think there is any bug, and
I'm not sure whether it makes sense to file an enhancement request to
allow purchase of 0 shares or dividend of 0. Is there any way I can
do this, or do I have to fudge the numbers, adding a whole share and
then removing it? Thanks for any suggestions.
It's possible I'm not understanding fully, but it sounds like today
you've received a dividend. Can't it just be recorded as such, and
transfered into the brokerage account. Similarly for following partial
payments. Then, when Merrill do cough up the share, buy it using the
funds in the brokerage acount.
That would be the logical thing to do - but it would not reflect my
account, as the brokerage account is NOT increased by the amount of the
dividend. (It would work, but reconciliation would likely always be off
by a small amount of "pending" reinvestment amounts.
I take it here that 'the brokerage account' is as seen by Merrill? If
that is so, then your suggested 'shadow' brokerage account would be what
I was thinking of.
I suspect the
"right" way to do this is just to make the reinvestment purchase of the
partial share, and as long as my count of shares is within 1 of theirs,
count it accurate. Another option would be to create a separate "shadow"
brokerage account with just those odd amounts. Again - this is really
due to the way Merrill Lynch handles this. This is also the case where
each such reinvestment is sent to me as three separate transactions -
one for the dividend, on for the reinvestment (with no details except
the total amount), and a third with all the details (price, number of
shares, ...)
Yes, I remember your file! I still use it in testing.
Allan
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