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Author
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Topic: Dividend reinvestment as single line entry ?
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FN_User
Member
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posted 01-06-2006 10:05 AM
 
Can I enter a dividend reinvestment as single line entry in FN?
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fni_support
Moderator
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posted 01-06-2006 10:05 AM
To record a dividend reinvestment, normally you receive the dividend as cash in one transaction and use that to purchase shares in another. To do this in a single line entry, add the cash to the purchase multiple distribution:IBM 100.00 Dr
Dividends/IBM 100.00 Cr Enter this transaction in your broker cash account as if it were a normal purchase of stock. You will get the Aquire Investment? prompt. When the multiple distribution screen appears, add the credit for the Dividends income account. The amount of the credit is the same as the amount of the purchase, so the net transaction is $0 and has not affect on your broker cash account. - David
FNI Support [This message has been edited by fni_support (edited 01-10-2006).]
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FN_User
Member
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posted 02-13-2006 03:12 PM
Thanks for the posts. I am finally getting to these open issues. I am not able to follow your directions for the dividend reinvestment. When I hit broker transaction, I do not get the prompt for acquire investment. Please advise. Thanks.
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fni_support
Moderator
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posted 02-13-2006 03:23 PM
Here are detailed steps. Your actual Payee and Accounts will of course be different.- Enter ID CR
- Enter Payee Dividend Reinvestment
- Enter Account IBM. The Acquire Investment screen appears.
- Select Yes.
- Enter $0 as the Credit amount. The Multiple Distribution Screen appears.
- Enter the number of shares acquired.
- Enter the amount reinvested in IBM as a Credit.
- Enter the account Dividend/IBM on the second line.
- Enter the dividend (same as the amount reinvested) as a Debit.
- Select OK.
[This message has been edited by fni_support (edited 02-13-2006).]
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