DRIP funds

[Derek Atkins]

This is the appropriate method.

-derek

Thomas Vitolo <tjvitolo at yahoo.com> writes:

> Using gnucash 1.8.9, and IANAAccountant.
>
> I have some accounts that have DRIP funds.  For example, when working at
> Procter & Gamble, I purchased stock through my paycheck, and now I've got an
> account where the dividends are reinvested quarterly.  I'd like to keep track
> of this, and my intuition is to do it in the following way:
>
> Assets
>   Brokerage Accts
>     PG_Account (USD)
>       PG Stock subaccount (shares stock PG)
>
> For dividends, have the income->dividend put into the PG_Account, whose
> currency is USD.  Then, have the PG Stock subaccount transfer USD from the
> PG_account, and use it to purchase shares of PG with it.
>
> Will this method:
>  * allow me to rectify balances (I'm worried about having both USD and PG in
> the checkboxes, resulting in no current subtotal displayed because of differing
> units)
>  * allow me to generate reports to detail returns on the stock correctly?
>
>
> Is there a better method?  Thank you for the accounting/gnucash help!
>
>  - Tommy V
>
>
> 		
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-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available