Home – New Forums Money matters setting up account lines for share trading

  • This topic is empty.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • #986367
    TehCamel
    Member
    • Total posts: 873
    Up
    0
    ::

    so, we’re going to embark on a small amount of share trading (well, buy and hold)
    I’m trying to work out how to set this up in Saasu (examples from any other book system would be fine too.)

    am I on the right track:

    – Create “Expense” account “Brokerage Fees” with GST code G11
    – Create “asset” Account “Share Holdings” with no specific tax code
    – Create “Income” account “proceeds from shares” with no specific tax code

    then when we buy something, i have to somehow add it to the Equity Account (and simultaneously do a debit from the bank account)
    and add the brokerage expense to the exp:brokerage
    and then when we get dividends, they get keyed as income to “inc:proceeds from shares”

    or am I completely and utterly wrong ?

    no – definitely shouldn’t have had it as “equity” – so i changed it to Asset..
    it’s not equity really..

    #1157459
    TehCamel
    Member
    • Total posts: 873
    Up
    0
    ::

    sorry.. investing, not trading :)

    #1157460
    Henry21
    Member
    • Total posts: 13
    Up
    0
    ::

    When u buy shares
    Dr share holdings asset
    Dr Bro expense
    cr cash

    When u get divs
    Cr div revenue
    Dr cash

    Sent from my SM-N9005 using Tapatalk

Viewing 3 posts - 1 through 3 (of 3 total)
  • You must be logged in to reply to this topic.