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Share Purchase Plans (SPP) - How To Expand / Collapse
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Posted 31/01/2011 3:51:33 PM


MySF Administrator

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Hello,

"The fund paid for a SPP on the 30/06 but didn't receive the allocation of shares until the 01/07, how do I record these events?"


In cases where the SPP was paid for and the allocation of shares was received within the same financial year, you can simply record one event which will be the purchase of the asset with your allocation of shares.

However, some of you may want to record two separate events to show money leaving the bank account and money coming back in as well as a payment for an asset. Recording it this way is the same as recording it across financial years.


Transfer money out of the bank account to pay for the SPP
Go to Cash and Bank Accounts > Journal Processing and record a transaction for the date you applied for the shares with the following lines where $x is the amount paid:
DR - 1115 Accounts Receivable - $x
CR - Bank Account - $x



SPP has been approved and shares have been allocated
Go to Cash and Bank Accounts > Journal Processing and record a transaction for the date the shares were approved with the following lines where $x is the amount returned.
DR - Bank Account - $x
CR - 1115 Accounts Receivable - $x



Record allocation of shares
Go to Assets > Buy and Manage section > Shares and record the purchase of your allocated shares where the bank account is the same as the ones used in the journal entries above.


If there are any questions with any of the above, please post here or send us an email to info@mysf.com.au

Regards,

MySF

Post #4652
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