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Regular Member
 
Group: Forum Members
Last Login: 30/12/2011 3:51:35 PM
Posts: 31,
Visits: 183
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Hello
I have been using the new functionality to enter distribution details and then finish them all later when the tax information becomes available. This is a vast improvement and much appreciated.
I have a couple of questions.
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When entering the incomplete distribution details an income account must be chosen.
When completing the incomplete distribution details an income account must be chosen.
Are there any requirements on the choice of accounts in both cases ie. must they be identical. If not, what was your thinking on how the ability to choose different income accounts might be used.
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I missed the fact that there was a memo field on the entry screen when completing the distribution entries. Hence I have some number of transactions without memo info. I noticed that the transactions are not editable (not even minor edits). Is there any way for me to add a memo to those transactions.
Thanks
Bryan Lovquist
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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,
The account chosen should be an income account, more specifically an operating income account. This ensures that the income is correctly displayed on the balance sheet.
The accounts chosen do not need to be identical, though in most cases they will be 4110 - Distributions received. Note that when you are completing an incomplete distribution the software will actually reverse the original posting. A whole new transaction is created instead, which is why there is no need to use the same account.
With regards to your question about memos, these unfortunately cannot be edited for dividends and distributions once they have been processed. However, you can attach an electronic document such as a word document or text file to the transaction. To do so please select the transaction in the Reporting > Transaction Reporter screen, select the transaction in question and use the attachment control near the bottom right hand corner of the Transaction Reporter to 'Browse' for the file you would like to attach.
Regards,
MySF
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