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MySF Administrator
Group: Administrators
Last Login: 17/05/2010 6:31:15 PM
Posts: 464,
Visits: 632
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We will consider the use of a different account and post a reply here.
Regards,
MySF
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Regular Member
Group: Forum Members
Last Login: 14/08/2010 7:29:02 PM
Posts: 30,
Visits: 172
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Hello
I was wondering, when do you expect to release the new functionality as discussed in the previous postings?
Thanks
Bryan Lovquist
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MySF Administrator
Group: Administrators
Last Login: 17/05/2010 6:31:15 PM
Posts: 464,
Visits: 632
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Hi,
We will be including this in the next major update. Because there are several other modifications to make, this is likely to be at least another 8-10 weeks away.
Before that time we will also release a new portfolio manager which contains this exact functionality. Based on what we have learned from that so far and the feedback we receive from users we may modify the approach outlined in previous posts to make it a smoother process.
The new portfolio manager is called Manage Invest (http://www.manageinvest.com). It is capable of administering any type of portfolio from single investor share portfolios to large investment clubs, trusts etc. It offers all of the functionality of MySF but the rules are not hard coded for SMSFs.Please note that most of the functionality in Manage Invest will also appear in MySF after a series of updates.
Regards,
MySF
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Regular Member
Group: Forum Members
Last Login: 14/08/2010 7:29:02 PM
Posts: 30,
Visits: 172
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Hello
I was wondering, when do you expect to release the new functionality as discussed in the previous postings?
Thanks
Bryan Lovquist
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MySF Administrator
Group: Administrators
Last Login: 17/05/2010 6:31:15 PM
Posts: 464,
Visits: 632
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Hi,
We are currently testing this and other new features. We would anticipate that testing will be complete in the next week and provided there are no major problems founds the update will be released in the next 2-3 weeks.
Regards,
MySF
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Hi,
Have been following the posts on the above and the mods in the pipeline.
Do I understand it that if say WOTCA make 4 distributions during the year, then when it comes to "Complete Distribution Details" then you only input the total of the 4 and as they have all been previously tagged they will be adjusted accordingly.
Great but.
A number of Trusts issue their last distibution for the year around the last week of June. They then provide the tax statement in late July early August.
Fine so far but the last distibution is not paid until sometime in August meaning the total must be split into two accounts. The true bank account for the fund for the first three and an bank account specially created with a name such as Distributions Receivable.
Di I understand all this correctly and if so we still have the problem of splitting the tax advice into parts. Funds actually recived during the tax year and funds taxable within that year but not received until the next tax year.
I can manage this but thought I should understand the full process.
Regards,
Colin
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Hi again,
I am quicker on Sundays than Saturdays it would appear.
In relation to my post above it would simply mean inputting the last distribution, tagging it "Details pending" and ensuring it went into the "Distributions Receivable" account.
Then the "Complete Distribution Details" can be accessed and completed I assume.
Regards,
Colin
PS I see no need under these circumstances for any Suspense account as various crosschecks are availble in Reports to ensure all distributions have been correctly allocated.
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MySF Administrator
Group: Administrators
Last Login: 17/05/2010 6:31:15 PM
Posts: 464,
Visits: 632
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This is a short post to advise all readers of this discussion thread that the dividend and distribution processing has been revised for version 3.0.0.
Dividends and distributions can now be tagged for completion at a later date, which enables users to enter tax details when they become available. At that time the software automatically adjusts previously entered incomplete dividends and distributions.
This thread will stay on the forum to enable users to view past feedback.
Regards,
MySF
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