Telstra Buy Back

Norwen
Norwen Member Posts: 5
What is the best way to record this transaction in Quicken Personal Plus?

Comments

  • Norwen
    Norwen Member Posts: 5
    edited August 2016
    That would normally be the case, however, the buy back includes a capital component of $2.33  and a dividend component with a fully franked dividend of $2.27 making up the $4.60 price.
  • Norwen
    Norwen Member Posts: 5
    edited August 2016
    Thanks David - that was my initial thoughts - I guess it is too much to ask for our friends at Reckon to actually provide a process for this type of activity that happens reasonably regularly.  Indeed Maus, with their Stock Market plus program,  has a action for this type of transaction that does all the work for your - handles the capital component and also the dividend.  Unfortunately the program does not have the personal financial management aspects that lead me to Quicken Personal Plus in the first place.
  • Mirko
    Mirko Alumni Posts: 1,258 ✭✭
    edited November 2015
    Hi gents, thanks for your comments, David in particular for the suggestions on how to process this in the Personal Range. Due to Australian Legislation, Accounting advice cannot be provided by a Australian Company unless they hold a Tax Agent License. As Reckon is not an authorised Tax and Financial Services providing advise on Tax implications, wealth management and the like are not possible under current laws. It's great to see you helping each other with these matters and how you are using the software.

    CPA Australia have a document which relates to the new law on their webpage. There is also a disclaimer which might be worth a read on the Reckon Home page. This disclaimer is in references to the Legislation mentioned.

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  • Norwen
    Norwen Member Posts: 5
    edited August 2016
    Thanks - however, we are not asking for advice - just a program that will process the range of share transactions that take place in the Australian market.  Maus can do it so there is no reason why Reckon can't if they have a mind to do it.
  • RayPat

    Totally agree "Buy Backs" are not uncommon in the Australian market and it is not good enough for Reckon to sell "Personal Plus" into the Australian Market without a facility to process "Buy Backs" in investment transactions, when the rest of the program is quite adequate..

    I add that I find the technical support for the product a little disappointing.