Your MYOB software isn't specifically designed to track the buying and selling of shares, but it's flexible enough to be customised for this purpose. We'll step you through one method you can use to ...
Updated 9 years ago
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Hi HAL9000, SupportNoteGuy, DuncanS,
If you aren't classified as an actual Trader, then whether the Company is registered for GST or not is beside the point. You can't claim the GST back.
Bringing in opening and closing stock is only if you are going to do the entry as per the support notes.
I would suggest that you just do a spend money transaction allocated to the Asset account and record in the notes how many shares you bought and price per share.
When you sell them do a receive money for the nett amount.
Allocate the amount of shares sold times the orginal cost to the asset account, allocate the brokerage to Profit/Loss on shares (as a minus with the memo being brokerage fees) and allocate the remainder t the same Profit/Loss on shares account.