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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 was going though the general ledger transactions generated by the distribution entry / reinvestment / cash receipt screens and believe there might be a problem if the distribution contains a tax deferred component. I was using the completion of incomplete distributions functionality. If the distribution is done as a cash receipt the transaction is I believe correct in that the tax deferred amount is applied (reducing the cost) against previous assets on a proportional basis. If the distribution is done as a reinvestment it appears that the tax deferred amount is applied (reducing the cost) in total against the newly created asset. This seems incorrect to me. Should MySF not apply the tax deferred component the same way in both cases, ie. proportionally against the previously existing assets? Regards 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,
Yes, the software should be applying the tax deferred amount proportionately against the pre-existing assets. We have been able to replicate the problem that you described and will investigate what needs to be done to fix it.
Regards,
MySF
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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 am trying to complete EOY 06/07.
Should I wait for the next update?
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,
We are working on getting a fix out that will solve this problem and assist those who were affected by it previously.
We are looking to release this update tomorrow (Friday) or on Monday.
The year end calculations are not actually affected by the tax deferred income being applied against the wrong asset so you can proceed with the year end without waiting for this update.
Regards,
MySF
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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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Hi
Any idea when we can expect this?
Regards
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,
Unfortunately we are still testing some of the other features that were added for this update. We will post additional information as the results of those tests come to light later on today.
Regards,
MySF
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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,
Following on from the previous post, the testing of the new features has almost been completed. If no errors are uncovered tomorrow morning then an update should be available by the afternoon.
Regards,
MySF
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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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This is a short post to advise that this update (3.2.2) is now available.
Regards,
MySF
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