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Junior Member
Group: Forum Members
Last Login: 11/10/2011 10:18:19 PM
Posts: 8,
Visits: 47
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Hi
What's the best way of handling oversubscriptions
I applied for 15625 @ 0.32 - cheque for $5,000 was banked. Was then allocated 15,000 and sent a cheque back for $200.
How do I enter this in ?
Thanks
Bruce
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MySF Administrator
Group: Administrators
Last Login: 4/11/2010 3:24:01 PM
Posts: 464,
Visits: 633
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Hi,
You could put in a Cash Receipt for the $200 against 4165 Tax Free income to account for the refund. If you had already added in 15,625 at $0.32 then please also record a sale for 625 units at cost base (so that there is no capital gain effect). This will bring the bank account and the asset details back into line with the actual event as well as make sure that there are no capital gain implications of the correction.
Regards,
MySF
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