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
Version 1.0
Blog Post
Let me know when you might need some assistance with Capital Gains/Losses.
An Individual gets a 50% Discount on a Capital Gain where the asset is held for more than 12 months.
A Company does not get the 50% Discount.
I setup three ledgers under Other Income being -
Capital Gains >12m, Capital Gains <12m Capital Losses
Some Capital Gains are appearing on the Pre-Filling Report.
Some Share Brokers provide a Capital Gain/Loss Summary.
As I have a separate Ledger for each Share Investment, the proceeds are posted to that ledger.
The difference remaining is reviewed for correctness to the difference in the Contract Notes/Reinvestment.
The balance in the asset ledger would be zero after transfer by Journal of the Capital Gain/Loss.
Duncan