Bond Fund Account - How to set up?

[Graeme Nichols]

Hello Folks,

I am having trouble coming to grips with handling a Bond Fund I have. I
have been unable to work out what accounts I need to set up for it and
how to then use those accounts to keep tabs on the dividend paid and the
new units they allocate to me up to the value of the dividend. One
doesn't get the dividend as cash but in units and fractions of units.
Also, how does 1.7.7 translate the value of those units to dollars and
cents in reports?

I'll try and explain:-

The dividend may be $11.21
The value of a unit may be $1.158317
The fund allocates 9.667 units to me instead of the $11.21

If I had, say, 1000 units before the distribution I now have 1009.667
units.

Do I set up an account type 'mutual fund' or do I set up an account type
'stock'? How do I manage the dividend (or income distribution, to use
the correct term as per the notice)

I have tried first setting up a 'mutual fund' account and and entering
the distribution into it and transferring the amount to an account type
'income' but even though in the pulldown on the second line there are
items labelled:- Div, Int, Buy, Sell etc. I cannot find a field to enter
the dist. amount. I then tried a 'stock' type account and doing the same
but it didn't seem to work either.

I guess what I am trying to do is use the one 'mutual fund' account to
handle both the div & the buy by transferring to and from an income
account and this does not seem to be working.

Can someone please give me an account list I have to set up to
accomplish this?

-- 

Kind regards,

Graeme.

---------------------------------------
"Your arguments are very well and are theoretically sound, but if ever
payment of members comes into force, it will result in Parliament being
flooded with men of mediocre ability and may eventually open the doors
to a regime of terrorism and corruption."

Sir Henry Parkes in reply to Jacob Garrard, member for Balmain, on the
subject of payment to members of Parliament. 1880.
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