MySF Forums / MySF - The Application / Help - I've got a problem!

Revaluation losses on segregated assets are allocated across member accounts

jimc — Sun, 26 Oct 2008 22:19:28 GMT

I have encountered a problem using the year end wizard where the revaluation losses on segregated assets are bundled together with other income and allocated across my account and my wife's account.

Both accounts are in accumulation mode. However, I have segregated my shares in anticipation of moving to pension mode. I had expected that any revaluation losses would also be segregated. Is there a way to achieve this?

Your guidance would be much appreciated.

Regards,

Jim

Member Contribution Statement

lewisd — Sat, 20 Sep 2008 20:51:03 GMT

I am about to use the Year End Wizard, but on checking the member contribution statement for my wife, I noticed that whilst her final balance was shown, there was nothing in the boxes above it. During the year, I made four entries for her under 4627, 4647, 4648, 4710 and 4715. I am puzzled as to why nothing is shown in her statement under headings like "total contributed amount" and "employer contributed amount" or "personal contributions".

Tax Treatment in P&L

prosuper — Wed, 11 Jun 2008 21:29:59 GMT

I am trying to reconcile the pre and post roll income tax treatments in the respective P&L. Is there a a sequence of transactions that I need to follow. I am particularly keen to understand how the Taxable adjustment is determined.

Reversing Transactions

DTPSuperFund — Sat, 27 Sep 2008 21:01:18 GMT

I stuffed up an entry for a dividend reinvest which I entered using the distribution statement - prior to receiving the annual tax statement which itemises the componenets of the distribution.

The problem is that I did not tick the box to enter the detail later - I am new to the software and still finding my feet. When I realised my error I reversed the transaction and re-entered it with the ticked box.

When I look at my Asset Listing Summary report I am getting the units comming up twice, albeit that one has no value - this leads me to think that the transaction reversal has only reversed the monetary entry and not the units of asset?

I cant see any way to get rid of these additional units and therefore any revaluation of the investment to market value is wrong - although the original cost in $ terms is correct the number of units is inflated.

Am I correct in thinking that transaction reversals for dividend reinvest do not reverse the units? How can I sort out this problem?

Please assist

Various - EOY Rollover error; Portfolio loss; EOY Reports

UAJUA — Sun, 17 Aug 2008 04:38:24 GMT

1. At end of year rollover, the Balance Sheet correctly shows a fall in value in my share portfolio. However, the quantum is incorrect. It appears to be picking up other values or one other value from somewhere and overstating the fall in value by some $19,881. The question then becomes not only why this is, but how can this be corrected post rollover?

2. On a similar note, I have depreciated the physical asset MySF Software in the accounts and the depreciation expense has been shown correctly in the P&L. However the Balance Sheet shows 2 ledger accounts which means the software has been reduced from total assets twice, as follows:

1400 Physical Assets
1402 002 - Software
1402 - AA002 MySF SOFTWARE PROGRAM $528
1512 - AA002 Acc. Dep. MySF SOFTWARE PROGRAM ($294.23)

1420 Increase in Market Value (Physical Asset)
1422 Increase in Market Value for 002 - Software ($294.23)

3. Members Equity in the ledger account "3000 Member's Accounts" doesn’t reflect the loss from the fall in value of the share portfolio. I would have thought that the loss overall would have been split according to the agreed member proportions and then offset against the respective member contributions so as to reflect the each member's position as at balance date.

Instead, the Loss has been shown in a Liability Account "2255 Carried Forward Tax Loss". My auditor is looking for the Net position of each member as at balance date (as is needed for the Fund Annual Return anyway when entered in the Member Statement now).

4. Finally, the General Ledger doesn’t form part of the Year End Reports for printout once rollover has occurred. It appears that access to the ledgers post rollover is only on an account by account basis through System Setup - General Ledger which is a slow, messy way of printing off.

Treasury bond redemption

insall — Thu, 14 Aug 2008 19:12:48 GMT

Our fund purchases Treasury bonds from the RBA and holds them to redemption. The fund receives interest on the bonds until the RBA redeems them. At the redemption date, the RBA returns the face value of the bond in cash to our bank account.

What is the best way to record the cash received from the RBA when it redeems the bonds? (There is no sale as such. The bonds simply cease to exist.)

Crystallisation of tax free components

pelagic — Mon, 21 Jul 2008 23:58:03 GMT

Hi,

I started an Account Based Pension during the 2007-2008 year.

I just want to make sure I am doing the right thing in crystallising the various components.

As I understand it, I need to get all my account balances into Concessional and Non Concessional accounts. Is that correct?

My thoughts were that I would process a number of journals to move the balances from my member's account 3160 to 3185 and from 3170 to 3186.

For the 3200 accounts (Rollovers), I was going to journal the balance in 3210 to the 3185 account.

For the 3220 account, I was going to journal the pre-1983 component into the 3186 account and the remainder into the 3185 account.

That should give me my pre-1983 and undeducted amounts in the Non Concessional account and everything else in the Concessional account

Is this the right approach?

The question then arises as to what to do about the balances in the 4700 accounts (i.e. rollovers that took place in the 2007-2008 year)? Will they sort themselves out when I run the Year End wizard?

I won't be surprised if I am completely off track here so I look forward to your comments!

Regards

pelagic

Oxiana merger with Zinifex

nejamaka — Sat, 12 Jul 2008 20:10:16 GMT

Hi,

Can you please advise me how to correctly enter into MySF system the transfer of 2000 Zinifex shares into 6386 Oxiana shares as at 1st July 2008. Many thanks for your help.

Nejamaka

Sending information to accountant

mhill1 — Sat, 14 Jun 2008 07:11:38 GMT

How do I package up the information to send to my accountant? You answered this in another question, and provided a link from which the accountant can download the disabled software, but that link doesn't appear to be working. I can't find it anywhere on the website

Regards

M Hill

MySF shuts down when I try to use Housekeeping

scott — Fri, 13 Jun 2008 04:18:43 GMT

Hi,

When I try to use Housekeeping>Utilities>Bonus Share Allocation to update my Telstra holding for the bonus the MySF program pops up a dialogue box that says it has encountered a problem and has to shut. I also noticed when I checked the Asset register to see if it had updated that another holding no longer shows a name change update and has reverted to the old stock name (this isn't Telstra related, completely separate). I can't tell what's going wrong. What should I do?

Regards

General Journal Entry function not working

superkev — Sun, 01 Jun 2008 19:32:26 GMT

The GJ function will not save any entries as it is not tallying up the total amount accounted for as DRs and CRs as they are entered. Therefore it shows the summation boxes at bottom of screen as zero balances, therefore displays a dialogue on hitting Save button stating that the amounts do not balance.

Have tried both in Sample and Life system and neither will process data. Have exited system and reentered program and still not working.

Asset Movement Report

DESUPER — Tue, 15 Apr 2008 22:43:26 GMT

I have, for the first time, run an Asset Movement Report. I find to my great dissapointment that sub-totals are a complete mess.

In the case where there are multiple additions to an asset the sub-total for that asset is almost always wrong. Sometimes the last entry only is included and sometimes the last two entries.

The format is also inconsistent, sometimes a dotted line appears above a sub-total, sometimes not.

Can someone plese resolve this promptly?

:sick:

Accounting for Tax Refund

superkev — Thu, 22 May 2008 07:50:16 GMT

We have just received a refund from the tax office - how is this accounted for in the system?

There does not appear to be an account to receive money from the Tax (perhaps this is a pragmatic approach to the normal realities of taxation!!:Whistling:)

Further, in looking for a way to handle the refund, I am also lead to wonder how one treats the various components that go towards the tax assessment to get the net result of the refund.

That is, the fund was assessed as owing $1057.35

The assessment was offset by:

Foreign Tax Credits of $131.25
Tax Withheld Credits $858.01
Franking Credits $385.84
Balance of the Assessment was a Refund Owing to Fund by ATO of $317.75
Interest on Refund payable by ATO to Fund of $5.31
Net Paid to Fund by ATO $323.06

Ignoring the interest paid by the ATO which is easily accounted for in system, the various credits will have been entered into system last FY as distributions were received and entered. Thus, presumably there have been accounts accumulating the various credits and the withholding tax.

Are the amounts in those accounts carried into this FY or have they been "flushed" during EoY rollover and therefore do not have to be offset through a recognition as a component of the tax paid.

Remove Member / New Member

DESUPER — Thu, 15 May 2008 23:27:56 GMT

I removed a member effective 01/07/08 and put in a new member as of the same date. I removed all account references to the old member.

Now when I access the member allocation table I get a series of error messages and the system wants to shut down.

Member reports read the correct opening balances for the now current members. The problem seems to be in the allocation area.

What have I done wrong. Is there any suggestion to fix.:ermm:

Contribution accounts for new member

wanzhu — Sun, 18 May 2008 00:01:48 GMT

Earlier this year, we added a new member to our fund. The system appears to have added contribution accounts in the new member's name under the numbers 4635 (Member Contributions - Taxable), 4640 (Member Contributions - Undeducted) and 4645 (Member Contributions - Unpreserved), but not under numbers 4647 (Member Contributions - Concessional), 4648 (Member Contributions - Non-Concessional) or 4649 (Member Contributions - Excessive).

Why this apparent inconsistency, or have I not done something that I should have done?

Can I manually create the new accounts for the new member?

changing the purchase date

bruceb — Fri, 09 May 2008 19:43:37 GMT

Hi,

I need to change the purchase date for a share holding which formed part of the opening balances - how do I change it ?

thanks
Bruce

Investment in Trusts: Distributions receivable at 06/07 but reinvestment not allocated until 07/08

ywilson — Sun, 20 Jan 2008 05:38:49 GMT

My SMSF has investments in a number of Trusts where the record date for distributions are within 20006/07, but payment/allocation of reinvested distributions is after 30/6/07.

I am having difficulty locating in the forums or the manual an outline on how to record such distributions so that the new units are not included in the Balance sheet as at 30/6/07. I propose to do the following, but would value your advice on recording such transactions.

30/6/07 record the distributions as if they were cash distributions, using a Clearing Account that I have created, and then allocate the distributions in accordance with the respective Trust's distribution tax statement.
30/6/07 DR Distributions receivable (an current asset account I have established) and CR Clearing Account. This would ensure that only the distribution is recorded.
1/7/07 Reverse entry at 2.
When the distribution is actually paid/allocated, it is recorded a cash purchase of units is through the Clearing Account to reflect the reinvested quantity and unit price.

Is there another simpler way of handling this in the software? Have I overlooked something? I would appreciate your advice.

Regards

Total amount not allocated to line items on a major edit

scott — Wed, 09 Apr 2008 03:11:38 GMT

Hi,

I'm trying amend an incorrectly entered consideration for a share purchase. I go to transaction reporter and pick up the top line of the entry. I click on major edit and make the change. I keep getting a dialogue box that says "total amount has not been allocated on line items". The first box says "none" under account and the two subsequent boxes refer to the line of stock at the purchase date. I assume the problem is the first box but I don't understand why it says "none" and I don't know what it should say. Am I doing something wrong or do I have a glitch?

Regards

Dividend reinvestment which account to use

remp — Fri, 04 Apr 2008 19:42:50 GMT

Hi.

Can you please advise which account should be use when entering a dividend reinvestment CR4116 or CR4117.

I have been using CR4117 and when the reinvestment is applied the total entry is broken down into several lines with the dividend reinvestment CR4117 broken into four lines and if there is an imputation credit CR4160 it too is broken down into four lines.

Could this be a bug?

Also could please explain what happens with the over or under amounts when using dividend receivable account 1125.

I was shown previously to divide the total reinvestment by the number of shares so there was no remainder.

Please advise on the correct way to enter my reinvestments.

Thanks

Percent Franked Confusion

BugHut — Wed, 02 Apr 2008 14:55:00 GMT

I have a dividend statement showing dividend amount of $224.90. The franked amount is $89.96 (40%) and the Unfranked amount is $134.94 (60%). The Franking Credit is $38.55.

On the dividend pop-up form I enter $89.96 in the Franked amount box. I enter $38.55 in the Imputation Credit box and the Percent Franked box automatically shows 100%. According to the help manual it says :-

Percent Franked Enter the percentage of the dividend that is franked.

When I change it to 40%, the Imputation credit field changes to $15.42.

I have entered $134.94 in the Unfranked amount.

Should I be changing the Percent Franked field. If not, then it is not clear what it is for.

Accrual of income received after year end

John F — Wed, 26 Mar 2008 06:39:04 GMT

What is your recommended method to bring into account income relating to a current year, that was received after the year ended?

This could either be quarterly or half yearly income that was recorded during the year under the option "enter full details later" and now the last quarter or half yearly component is received in July, August or September, together with the Annual Tax Statement giving full details of the distributions received during the year, after the year has ended!

I wish to ensure that my bank reconciliation is in line with the statement showing the balance as at 30 June.

I know that this topic has been raised many times, but I am unclear, since the abilty to enter full details later of distributions received during the year was introduced, how those received after year end, are brought into account, utilising the Annual Tax Statement details of it and the other distributions received prior to 30 June.

Your advice and comments would be much appreciated.

Adding reinvestment dividends for TLSCA

remp — Sun, 23 Mar 2008 02:35:00 GMT

Can you advise me how I should enter a dividend reinvestment for TLSCA? The shares provided are for TLS and I haven't TLS shares until now.

Thanks

MIG Demerger

brown — Sun, 13 Aug 2006 08:25:42 GMT

Does anyone know the VDEP (value of demerged entity) for MIG (Macquarie Infrastructure Group) demerger of SRG (Sydney Roads Group). The distribution was 1 SRG security for every 3 MIG securities -- does this make VDEP = 33.33% ?Regards, Ray Brown

Fund Directory message

scott — Thu, 20 Mar 2008 23:59:53 GMT

Hi,

Whenever I open my fund I get a dialogue box that says "This fund appears to have been moved or renamed". It suggests I check under settings. Everything appears to be fine. I think it is occuring because I did have a problem with an end of year roll which had to be redone and you kindly sorted me out.

How do I either correct the problem the program is seeing or eliminate the pop up message?

Regards

Wesfarmers-Coles cash & scrip for scrip

pelagic — Tue, 11 Mar 2008 01:18:32 GMT

Hi,

Just wondering if you could provide some guidance on the transactions for the Wesfarmers-Coles acquisition. The ATO has provided a class ruling CR 2007/114 (and a follow up to correct a couple of typos). The links are:

http://www.wesfarmers.com.au/getfile.aspx?Type=document&ID=24830&ObjectType=3&ObjectID=2780

and

http://www.wesfarmers.com.au/getfile.aspx?Type=document&ID=24831&ObjectType=3&ObjectID=2780

The problem I foresee is the fact that the scrip for scrip component involves converting the original Coles shares into two separate Wesfarmers listings, Wesfarmers Ordinary Shares and Wesfarmers PPS (ASX codes WES & WESN)

I hope there is an easy way to do this.

Regards

pelagic

Asset Revaluation

BugHut — Wed, 05 Mar 2008 21:39:05 GMT

I have 29 share assets entered in my fund's portfolio. Today (6/3/08), I tried to do an asset revaluation for the first time. I selected yesterday's date (5/3/08) and said "Revalue All Financial Assets". A progress screen was shown as it went through each of the shares, and when it completed I was present with a screen that said 29 revaluations failed. They all have the same reason, and that is "Asset cannot be automatically revalued to $0.00".

The 29 shares are all listed in the ASX 200.

Am I doing something wrong ???

Segregated Assets

atkins12 — Sun, 02 Mar 2008 00:01:40 GMT

Hello

I am just about to switch one of our fund members into pension mode and want to segregate the assets to avoid the expense of an annual actuary's certificate. This is easy for the Financial Assets, but the fund has some fixed interest deposits which were set up as additional bank accounts.

How is it possible to segregate "cash" assets and then ensure that the income is treated as non-taxable to benefit from the pension status. The pension member is the major contributor to the fund.

Regards ....... Ron

Software not retaining added records & error message on startup

petgale — Mon, 18 Feb 2008 23:03:35 GMT

I have been using the Trial version. I recently purchased the product and registered this software by inserting my registration key.

Now upon opening the software I see an error message: "FUND MAY ALREADY BE OPEN - this fund appears to be in use by somene else, or may not have been saved properly last time it was opened - continue Y/N"

Also when opening the program, the screen is at first distorted before finally opening fully.

I then found a whole transaction (purchase - expense) had disappeared. I then re-entered this transaction but omitted to add a document referring to this transaction. I then edited this entry, adding the document. I pressed the SAVE button and received the message: TRANSACTION HAS BEEN UPDATED.

I then exited and then looked up the entry and all appeared well.

However, after restarting the computer and then the program - after receiving the above error messages again, have found the original entry still there but no mention of the documents added through the EDIT function.

I have performed these actions several times but it does not retain all the information submitted. However when trying the reinsert the document, it tells me a document of that name already exists and I have to rename the document to install it.

I have noticed that when viewing a transaction, the EXIT button is greyed out and I have to use the red X at the top r/h corner to exit.

When I receive the CD I will have to delete the existing program from my computer and then reinstall it from the CD, then set the whole fund and all information up again - not good.

I am running Vista on a new modern computer and do not have an problems with other programs.

Any advice please.

Have I done end-of-year rollover?

wanzhu — Fri, 15 Feb 2008 17:05:28 GMT

I must be getting older than I thought - I can't recall whether I have rolled over to the 07-08 year! How do I check this?

carried forward operating losses

chaudhri — Mon, 11 Feb 2008 23:42:12 GMT

Following details to assist with my problem.

The profit & loss for a year has been worked out by MySF as follows (summarised):

Profit after tax and rebates is 46233.15

Plus non-assessable income (from accounts 4175, 4210, 4500, 4630 & 4675) is 16804.42

Less non-assessable expense (from account 5305) is 29084.73

The above gives a profit, including members funds of 33952.84.

After members funds of 47256.70 are deducted, there is a figure of (13303.86) available for distribution which appears in the years balance sheet as a carried forward tax loss under account 2255.

In the subsequent year's Profit and loss, a carried forward operating loss of 13303.86 appears and is deducted from the taxable income.

My question is, whether this is correct since the non-assesable expense of 29084.73 under account 5305 was a decrease in market value of investments, rather than a capital loss for investments sold. Since MySF works these statements automatically at the end of the year, there were no manually created journals.

Thanks

Asset Cost Base Report

John F — Wed, 06 Feb 2008 05:38:16 GMT

Am I able to print a copy of the Asset Cost Base Report? If so, would you please tell me how.

Regards

John

Asset Listing Report

John F — Fri, 01 Feb 2008 03:38:40 GMT

The Asset Listing Report is virtually devoid of any headigs! I ran a report for all Financial Assets, but no heading states this, and I also ran the report as at the 30/06/06 but the report does not display this, although the body of the report contains the information I require..

Would you please comment on this as I find the situation most unsatisfactory.

Regards

John Frazer

Opening balance of asset in credit

John F — Sun, 03 Feb 2008 23:52:48 GMT

I have just noticed that one of my asset opening balance entries is showing up as ($66.13). Upon looking back, it would appear that a tax deferred entry for this amount was posted to the account after the asset had been sold.

What are your suggestions on how to fix this problem? As I still have two other parcels of these shares, could the above amount; be applied against them, and if so how would I go about it?

Your comments would be much appreciated.

Regards

John Frazer

Cost Base of Assets

John F — Thu, 31 Jan 2008 21:41:18 GMT

Would you please advise what asset reports show you the true cost base of an asset as at a nominated date. Do they only show the current cost base, or is there a report which shows the tax deferred or capital repayment components which have reduced the original cost base over time.

Your advice would be much appreciated.

Regards

John Frazer

Unpresented cheques.

AnthonyBriffa — Tue, 22 Jan 2008 23:15:43 GMT

Hi,

I, hopefully, have a simple problem. In June 2007 I issued two cheques which weren't banked until July 2007. One of these cheques was a pension drawing and the other related to purchase of some units in a Trust. The unit purchase was completed in July 2007 and my accountant has treated the transaction as if it occurred in June 2007 (i.e. when the cheque was issued). In MySF I have processed the transaction in July 2007. The pension payment was the monthly payment due in June 2007. There was also a sale of shares during June 2007, the proceeds of which were received in July 2007. My accountant has shown the Bank balance as:

* Balance as per Bank Statement
* Less: Unpresented cheques (Pension and Trust Units purchase)
* Plus: Outstanding Deposits (Share sale proceeds)
* Bank balance as at 30/6/2007

Can you tell me what entries I should process to the various asset accounts to align my records with the Bank balance arrived at by my accountant.

Thanks and regards,
Anthony

Asset Editor & Reversed transactions - how to "unreverse"

PP Super — Mon, 07 Jan 2008 03:59:49 GMT

I seem to have stuffed up a share purchase and I'm not sure of the best way to "unstuff" it!

How it happened:
I bought two parcels of MFF shares on the same day - different quantities, slightly different prices and different contract notes so I entered them as two purchases. No problem except that they got the default asset allocation which I set for shares, ie 100% Australian Shares. Since the purchases were on the same day, the asset description is the same but the asset number is different. The actual number of shares doesn't matter but the ratio of the parcel sizes does (see later) so to save me entering lots of zeros lets say:
AA0014 is 5 shares
AA0015 is 3 shares

However, since MFF is a LIC investing in overseas shares and I then decided I should reset this to:
100% International Shares.

I did this using the Financial Assets Editor and was pretty sure that this would count as a "cosmetic alteration" which wouldn't need the transaction to be reversed. The problem was, I was mislead by the online help. I now know (from the second parcel which I didn't stuff up!) that you don't actually need to hit the update button after MySF tells you it has saved the asset allocation change. However, my understanding of the instructions was that you had to "update" any edit for the edit to stick - so for the first parcel, that's what I did - and, to be fair, it told me it would reverse the transaction.

Here's where I made my first mistake; I thought I remembered reading on a forum article that MySF would "warn" you of this but that if the edit was "cosmetic" the changes would be posted without actually reversing and re-posting the transaction - so I continued. On its own, this problem would just have been annoying - reversing and then re-posting identical transactions - but unfortunately I also selected the wrong bank account for the transaction so now the re-posted transaction is actually "wrong".

So, on checking with the transaction reporter, I now have the following transactions:

GJ0029 Purchase of AA0014 (this is all OK, I changed asset allocation without messing with the original transaction)
GJ0030 Purchase of AA0015 (the original purchase and I had changed the asset allocation so was all OK until I hit the "upgrade" button!)
GJ0033 Reversal of GJ0030
GJ0034 Purchase of AA0015 but unfortunately from the wrong bank account.

So, essentially I want to just get back to GJ0029 & GJ0030 being effective. GJ0029 is fine as is. What I'm confused by is what to do to deal with GJ0030, GJ0033 & GJ0034 to get back to where I started!

The help manual say you can only do one edit/asset using the Financial Assets Editor - so I guess I've used that up.

My first thought was that, since the bank account was the only problem with the effective transaction GJ0034, I could just do a major edit on this transaction and change the bank account to the correct one. The problem is that when I start going down that path MySF seems to want to proceed with four debits to account 1151-AA0015 instead of the expected two.

The four debits represent 3/8 & 5/8 of the purchase price and 3/8 & 5/8 of the brokerage. In other words the purchase price and brokerage amounts seems to have been proportionally split in the ratio of the number of units in AA0014 & AA0015 - I don't know why it would want to do that since GJ0034 only covers the purchase of AA0015 and indeed all the debits will be posted against AA0015 but it still seemed wrong to me so (not wanting to compound my stuff-ups) I did not confirm the edit.

My second thought was that reversing GJ0033 would reverse the reversal and so reverse GJ0034 and "unreverse" GJ0030. This time, however, I thought I'd test it all in the sample fund so I went through the exact same sequence in the sample fund - to give me the same stuff-up! I then reversed the equivalent to GJ0033 but found that the GJ0034 equivalent was still effective - so I reversed that also. This seems to give me the financial result I want and everything balances but if I look at the account for the equivalent of AA0015 and untick the show reversed transaction boxes - nothing shows up. So even though the equivalent of GJ0030 is, in essence, now effective - the reversed "flag" has not been removed.

Since I seem to have already generated quite a few reversed transactions, I want to be able to untick the box and see whats actually in effect - so this does not seem to be the right approach for me.

So my current thinking is to reverse the wrong GJ0034, not to reverse the reversal GJ0033 and just to post a new GJ identical to the original GJ0030 which as a new entry would not be filtered out as reversed.

But it all seems awfully messy!!!

So, am I on the right track here - or is there a "cleaner" way to do this!!

Software listing of codes only for ASX listed shares

ywilson — Sun, 13 Jan 2008 22:05:46 GMT

Whilst the sample fund provided with the software now appears to have names of listed companies as well as the codes, in the super file I have created only the codes appear. I would appreciate some guideance on how to resolve this, as the full names provides verification of the use of the correct code.

Regards

Partial Script for Script Rollover

ywilson — Sat, 27 Oct 2007 02:04:13 GMT

The fund held Promina shares. With the Suncorp Promina Merger, a partial script for script rollover was offered. Hence, at merger, cash was also received. The MySF software permits a full script to script rollover, but how would you suggest I treat a partial rollover. ie How should I treat the Capital Gain that the script for script contains over the orginal cost base of the Promina shares. Refer ATO CR2007/25.

Thankyou

Dividend transaction - how to edit memo

PP Super — Thu, 03 Jan 2008 00:00:07 GMT

I've been using the quick add dividend feature to input dividends.

The fund bought several packets of shares from the members by off-market transfer. I picked up a previous forum post about using a clearing account to enable the proceeds to be recontributed by the member - so that went fine.

One slight complication was that some of these were bought cum dividend (ie the ASX market value for the sale date was cum div) but the transfer didn't get processed by the record date - so the dividends were paid to the previous owner (ie the member). The member then paid the dividend back to the fund (direct deposit to the fund bank account) - so the only real difference is that the date and payment advice on the bank statement are different.

I have been covering this by a memo on the transaction which (I now know) is no problem if I use the cash receipt - dividend approach. However for the first one I just included it as one of the quick add dividends - which automatically added a short memo. At the time i wasn't worried because I thought the memo field was just a "minor edit" using the transaction reporter.

Unfortunately, when I went to do this I found that if the transaction selected is a dividend, the edit box disappears!!

Is there any way to just add some text to this memo box now - I really don't want to have to reverse the transaction just for a paragraph of explanation.

Asset valuations - price rounding

PP Super — Mon, 07 Jan 2008 04:21:23 GMT

I just tried comparing an asset valuation for 30 June with the one from my spreadsheet (from data downloaded from commsec) - but they didn't quite tally.

I had revalued the assets over a range containing that date but I couldn't see where you could actually check what asset prices were being used for individual shares.

I eventually tracked the problem down to a share where the closing price was .935 but the asset valuation seemed to be based on a price of 0.94. Since I hold 80,000 of this share, .005 amounts to a $400 error.

This is obviously a rounding error where .935 was rounded to .94 so is this a MySF preference that can be changed from 2 to 3 figure accuracy - or is it the data download thats only provided to 2 figures.

Also, where can I see what actual downloaded figure MySF is using for it's valuations?