Re: [GNC] Stocks/Equities queries (Australian Based)
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 wrote: > > > On Mon, Jan 7, 2019 at 6:46 AM David Cousens > 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:BankCr 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 gnucash-user@gnucash.org 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 > wrote: >> > > >> > > On Sat, Jan 5, 2019 at 11:35 PM David Cousens < >> davidcous...@bigpond.com> 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 >> > > > Income:non-taxablePension >> >> > > > Cr >> > > > Expenses:non-taxablePensionFund:pensionPayments Db >> > > > Asset:non-taxablePensionFund >> >> > > > Cr >> > > > >> > > > where 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 Db fees >> and taxes >> > > >
Re: [GNC] Stocks/Equities queries (Australian Based)
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:BankCr 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 gnucash-user@gnucash.org 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 > > > On Sat, Jan 5, 2019 at 11:35 PM David Cousens > > 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 > > > Income:non-taxablePension > > > > > > Cr > > > Expenses:non-taxablePensionFund:pensionPayments Db > > > Asset:non-taxablePensionFund > > > > > > Cr > > > > > > where 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 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. > > > > > >
Re: [GNC] Stocks/Equities queries (Australian Based)
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 Income:non-taxablePension Cr Expenses:non-taxablePensionFund:pensionPayments Db Asset:non-taxablePensionFund Cr where 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 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 gnucash-user@gnucash.org 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.
Re: [GNC] Stocks/Equities queries (Australian Based)
I'd go further and say that, while it is possible to do as Maf says, it can be quite confusing to manage, especially where investments are concerned. Capital gains and basis calculations are tricky enough to manage without having to jigger balances. I'd recommend choosing one or the other: either start at the beginning, or use an opening balance. David On January 5, 2019, at 4:25 PM, "Maf. King" wrote: On Saturday, 5 January 2019 06:42:58 GMT Xboxboy Mageia wrote: > But for the time being, my question is: > If I setup my accounts as they are now, using an opening balance, can I at > a later date go back and adjust, and enter the earlier purchases/dividends > of stocks/equities? > Yes, but you'll need to pay attention & reduce the opening balance transaction if you go further "back in time" amd add detail - it won't auto adjust! 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 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. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: [GNC] Stocks/Equities queries (Australian Based)
On Saturday, 5 January 2019 06:42:58 GMT Xboxboy Mageia wrote: > But for the time being, my question is: > If I setup my accounts as they are now, using an opening balance, can I at > a later date go back and adjust, and enter the earlier purchases/dividends > of stocks/equities? > Yes, but you'll need to pay attention & reduce the opening balance transaction if you go further "back in time" amd add detail - it won't auto adjust! 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 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.
[GNC] Stocks/Equities queries (Australian Based)
Hi all. Just getting all my stocks entered into GNC. Reading the concepts/tutorial last night, I see 2 methods of setting up: Purchasing or setting up with an opening balance. I have records stretching back to the early 80's. Being Australian stocks, most spit out yearly/6 monthly or even quarterly dividends, and where possible, I use the DRIP (Dividend Re-Investment Plan) So if possible, I'd like to get that ALL entered. But for the time being, my question is: If I setup my accounts as they are now, using an opening balance, can I at a later date go back and adjust, and enter the earlier purchases/dividends of stocks/equities? Regards, Xboxboy ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
