[GNC] Posting of Dividend through Stock Assist

[Paras Desai]

Thanks John for your prompt feedback.

Yes, I am posting it manually. Only down side is that i can not assign this income to that specific Mutual fund account and hence it does not reflects in Advance Portfolio Report, I guess.

Of course, this is not the big deal.

With my regards

Paras.

With regards
Paras
________________________________
From: john <jralls at ceridwen.us>
Sent: Tuesday, January 16, 2024 10:35:30 PM
To: Paras Desai <DesaiParas at outlook.com>
Cc: GnuCash User List <gnucash-user at gnucash.org>
Subject: Re: [GNC] Posting of Dividend through Stock Assist



> On Jan 16, 2024, at 05:41, Paras Desai <DesaiParas at outlook.com> wrote:
>
> 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 ?

That's not a scenario that's coded into the stock assistant so you'll have to enter it manually. Since dividend payments are presumably periodic it sounds like a good candidate for a scheduled transaction.

Regards,
John Ralls