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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Thanks Duncan, I've re-entered all the data using the method I proposed above, with the addition of your suggestion to use just a single Customer card for 'Equity Purchases'; and another single Supplier card for 'Equity Distributions'.
Thanks for your reply above - it seems that those two cards might be redundant in my case, and I have indeed recorded detailed memos for each purchase (eg. "45 @ $100.43; 15 @ $100.45") in each 'Other Asset' account transaction.
As I've started using those 2 cards in that particular database I may as well continue to do so. But when I start re-entering data in my second database, I may as well leave them out.
DuncanS Julie_A_C Thanks very much to you both for your help with all this, without which I could not possibly have got this far!
My next step (soon) will be to learn how to record share sales (this was not required for FY2017, but is required for FY2018), and Julie has touched on this in a couple of posts above, though I will no doubt need to return here for some more clarification at the time.