Accounting for Shares on Australian Exchange.

[Graeme Nichols]

Doug Laidlaw wrote:
> I am running Gnucash 2.0.1 as supplied with Mandriva 2007.
> 
> My wife inherited some shares in 2002, and I am trying to record them under 
> Gnucash. All are listed on the Australian Stock Exchange with suffix .AX.
> 
> Following the tutorial, with a custom account hierarchy, I get the new account 
> setup screen. Taking the first security, I enter AWS as the Account name.  
> All fine so far.
> 
> I then go to the Security/Currency field.  I can have CURRENCY or nothing.  I 
> can't overwrite it with ASX, or anything.  Perhaps I have done something 
> wrong higher up, because it used to be NASDAQ, NYE or Template.  Since ASX 
> isn't an option, should I be using Template?  The Tutorial implies that it 
> can be any exchange I nominate.
> 
> The "Smallest Fraction" at the moment is fractions of the AUD.  
> 
> There seems to be no problem configuring it for ASX prices, which are 
> available from Yahoo Quote.
> 
> Does it matter that the original purchase was more than one fiscal year ago?
> 
> With Australian shares, tax at the company rate is deducted from the dividend 
> and credited on account of the investor's tax liability.  I propose to treat 
> this tax in the same way as an employee's tax instalments, as a deduction 
> from the full dividend.
> 
> P.S. the READMEs say that if I add ASX as an option in the Scheme file, I need 
> to add it somewhere else.  Where?
> 
> Doug.

Further to my earlier post be sure that when you are creating the new 
account for your shares you select the account type as 'stock' before 
entering anything into the other fields or you wont be able to enter the 
fields correctly.

-- 

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Kind regards,

Graeme.
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