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Author	Topic: Recording Dividends & Capital Gains & Losses
DaleB Member	posted 05-30-2002 02:01 PM I have two accounts run by fund managers that each have numerous securities bought and sold every month. I account for them on a monthly basis by treating each one as a single security and manually updating the entire account balance by accessing securities to update manually. My problem is accounting for dividends and capital gains and losses reported at year end. How do I enter without affecting the value of the account and get the dividends and capital gains and losses to the appropriate tax schedule? IP: Logged
Pamela Member	posted 06-12-2002 08:41 AM The FN program is set up to handle transactions for buys and sells/cap gains and losses with individual trade posting. You are using the system in a manner that circumvents the usual posting and therefore bypasses the transfer to the tax schedules. Currently we are not aware of a work around for the situation you described. You can set up a separate dividend asset account and record your dividends separately that way. However, to record the capital gains and losses at year end, you would have to do a general journal entry. This would accurately reflect gains and losses in the correct accounts, but would not be on the tax schedule. Our new add-on module - BrokerLink - posts trades from downloaded files from your brokerage or money managers if they provide downloads to their customers. This means you don't have to individually post each transaction. The system downloads the transactions from your investment firm and you review them and post them to FN in minutes rather than hours! Call the sales department 800-468-3636 to request information on how this add-on module might meet your needs in this circumstance. IP: Logged
DaleB Member	posted 09-20-2002 03:58 PM How do I post the dividends as you describe and make the journal entry to record capital gains and losses without affecting my unrealized gains/loss account. I end up with a number in the cost basis column. IP: Logged
Pamela Member	posted 09-24-2002 09:58 PM See the online Help under Recording a Dividend Reinvestment for the steps to record a dividend reinvestment. Recording capital gains/losses as a general journal entry depends on how the fund reports the dividends at year end. Some funds report all income as dividends during the year, and then at year-end give you the actual breakdown of dividends vs capital gains/losses. When you get that breakdown, you would do a general journal entry adjusting your dividend income account and the appropriate gain/loss accounts based on the breakdown you receive from the mutual fund company. IP: Logged

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