Correctly accounting for Dividend Re-investments from foreign companies
cedayiv at gmail.com
Sat Nov 1 22:38:59 EDT 2008
On Sat, Nov 1, 2008 at 4:09 PM, Rory O'Connor <rory at thewhiteroom.com> wrote:
> I am having a hard time in trying to account for the following
> 10/22 - Dividend received, ERJ, $47.89
> 10/22 - Foreign tax on dividend received, ERJ, $7.18
> 10/22 - Dividend Re-investment: Shares: 2.379, Price $17.1092, Amount
> I've set up the accounts
> Current Assets -> Stocks -> ERJ
> Income ->DRIPs -> ERJ
> Expenses -> Taxes -> Foreign Taxes
> I want to track everything if I can (i.e. incl the foreign tax). It
> the way to do this would be to do a split transaction in the
> Current Assets -> Stocks -> ERJ account. So I add Shares: 2.379, Price:
> 17.1092 and Buy: 40.71 with the "account" being Income ->DRIPs -> ERJ
> OK, that's fine. But when I try to add another line of Account: Expenses
> Taxes -> Foreign Taxes Buy: 7.18 I cannot figure out how to make the
> transaction balance out.
Briefly, you might use 3 splits:
1. Buy 3 shares of ERJ @ 17.1092, amount 40.71, account "Stocks->ERJ'
2. Split of no shares, with 7.18 in the buy amount for account
3. Balance those two splits with a line for no shares, 47.89 in the sell
amount for account "Income->DRIPS->ERJ"
> Any help is appreciated!
Hope that helps,
More information about the gnucash-user