[GNC] Posting of Dividend through Stock Assist

[Paras Desai]

Hello,

Greetings!

I was trying to post the Dividend income from a Mutual Fund through 
Stock Assist. But I encountered an issue. I am narrating my issue as below.

When I receive the dividend, 10 % of TCS (Tax Collected at Source) is 
deducted and deposited to the Tax authority on my behalf and the 
remaining amount is paid to me. Such Tax deducted and deposited to Tax 
authority is My Tax credit and in my books of account it should reflect 
as Assets (Tax Credit)

So my posting should look like this

Dividend : Rs 1000 Cr (Income Account : Income from Dividend)

Cash : Rs 900 Dr (Asset Account : My Bank)

Tax deducted : Rs100 Dr (Asset Account : Tax Credit)

There is no expense involved in the transaction.

Now, when I try to post this transaction through Stock Assist, It offers 
me two options

1. Either I show the difference between the Dividend and Cash (which is 
Tax deducted) as expense, or I capitalize. There is no option to post 
the difference as tax credit in Assets account.

AS a result, I need to post the transaction, with manual split, but in 
that case, I'm afraid I can not show return in form of dividend income 
for the Mutual Fund Account in portfolio report.

Has anyone come across such a typical situation ?

Thanks

Paras