MySF Forums / MySF - The Application / The Wishlist / Reversing a Return of capital / Latest PostsInstantForum.NET v4.1.4MySF Forumshttp://mysf.com.au/members/info@mysf.com.auFri, 10 Sep 2010 08:35:22 GMT20<link>http://mysf.com.au/members/Topic3209-27-1.aspx</link><description>To enable us to provide an accurate fix for this, could you please send through the fund as an email attachment to info@mysf.com.au This will allow us to check out what exact steps need to be taken to correct the current figures. In your email, please also specify the particular asset and other details to allow us to correctly identify the entries.RegardsMySF</description><pubDate>Thu, 07 Jun 2007 21:45:23 GMT</pubDate><dc:creator>MySF2</dc:creator></item><item><title>Reversing a Return of capitalhttp://mysf.com.au/members/Topic3209-27-1.aspxI understand what you have said in your reply that I should enter a Capital Return for a negative amount, however in trying to solve it before you replied I have created a mess.Initially I had entered a negative amount as a capital return as I thought that this was necessary when the loan amount is raised at the annual reset of an Instalment Warrant. After processing the capital return I realised that it should have been entered as a positive amount. I then reversed the transaction but later realised that the asset register would not have also reversed. So I then reversed the reversal. The net effect seems to be that the cash that was taken from the bank account for the negative capital return has now disappeared so that it appears that no cash was used but the asset register still shows an inflated cost base for the WarrantsIf i now do as you suggested it will get the cost base back to where it started but there will be a cash deposit to the bank when it appears that none was taken out initiallyThu, 07 Jun 2007 21:45:23 GMTroyjudyReversing a Return of capitalhttp://mysf.com.au/members/Topic3209-27-1.aspxThank you for your replyWhen will the next update be released?Thu, 07 Jun 2007 21:45:23 GMTroyjudy<link>http://mysf.com.au/members/Topic3209-27-1.aspx</link><description>The way to reverse the effects of a return of capital is to enter the equal amount as a negative. This will change the cost base of the asset back to what it was and process a transaction that is the opposite of the original.The reason that there are problems in reversing and reprocessing a sale is that all of the calculations that happen at the time of sale are made based on the cost base of the asset at that time. This means that if the cost base is incorrect, you can end up with incorrect tax calculations and/or an incorrect balance in the account of the asset. This is what the warning refers to.The other problem you have refered to has been fixed. This is included in the next update.Regards,MySF</description><pubDate>Thu, 07 Jun 2007 21:45:23 GMT</pubDate><dc:creator>MySF2</dc:creator></item><item><title>Reversing a Return of capitalhttp://mysf.com.au/members/Topic3209-27-1.aspxHow do I reverse a return of capital? I have simply reversed it but this does not change the purchase price back to what it was before as I understand that the asset register is kept separately from the Transactions (very confusing) I went to the "view &amp; edit sales records" because I had previously sold some of the parcel to delete all entries &amp; start all over again as I normally do but a note comes up warning of dire consequences if a return of capital has already been performedAlso how is my problem that i sent on the 5th June 2006. Is there any progress at all? It is now 4 months since I first asked for help.Mon, 09 Oct 2006 06:24:51 GMTroyjudy