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Junior Member
Group: Forum Members
Last Login: 30/05/2011 4:22:51 PM
Posts: 2,
Visits: 72
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| Could you advise best method to handle trusts (eg WFT) which offer dividend re-investment. I am inclined to declare distribution as a cash receipt as normal and treat dividend re-investment as a separate asset purchase. In the case of WFT their dividend re-investment shares change nomenclature to WFTN, WFTNA etc which does not seem to be catered for under normal Asset purchase<dividend re-investment>.
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MySF Administrator
Group: Administrators
Last Login: 29/01/2012 4:16:49 PM
Posts: 208,
Visits: 958
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I think your approach to record it as a cash receipt and then purchase on the same day will work fine as long as you record the Cash Receipt as a Dividend
It is possible to use the Dividend reinvestment function and enter the new share code - the software does not mandate that you need to use the same code. I note that WFTN is in the list of standard codes but not WFTNA.
Either technique will end up with income recorded and and entry in the Dividend report.
Regards
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