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
HAL9000 Julie_A_C SupportNoteGuy
Hal,
The first step is to record the purchase of the Share.
You use Spend Money and include the cost including brokerage.
My understanding is that for small investors, GST on Brokerage forms part of the Cost Base.
Under Non - Current Assets, create a Header called ASX Investments.
We have discussed recording of Dividends.
As you mention, Receive Money is used for Sale of Shares.
The total receipt is posted to the Asset Account.
From the Purchase and Sale Contract Notes, you calculate the Capital Gain/Loss.
If all the holding is sold, by default, the asset account is nil.
The Capital Gain/Loss in the Asset Account is transferred by Journal to the Other Income Account called Capital Gains/Losses.
As always, have your Tax Accountant review your transactions.
Duncan