how to enter shares & values for dividend reinvestment transaction (personal plus '15)

I am a new user of Personal Plus 2015, and use it for personal finance management. I hold various stocks, and the dividends for most are set up on Dividend Reinvestment. I have managed to set up my opening balances, but how do I enter dividend reinvestment transaction, where there is no cash going into my bank, yet there is an increase in asset value (i.e. more stock) and dividend income. I worked out way to do this years ago when i used quicken 2005, but can't recall. Advice much appreciated.

Comments

Graham Boast

Hi Morgan This paper from my website is still my preferred method http://reckonhelp.com.au/Help/RAPShares/Quicken - Recording Dividend Reinvestment Plan (DRP) Transactions.pdf You can use the Reinvest Income function, but the Cash Component bought forward and carried forward are not shown in any account, so accounting-wise its a little shaky. Graham Boast 0409317366 graham@reckonhelp.com.au Reckon Accredited Consultant

Kel Luke

Hi Morgan,

If you select your individual investment then transactions you will see under the Actions heading a drop down list of options. A fair way down that list is "Reinvest Dividend". just click on that option and the rest is straightforward.

Regards,
Kel Luke

Morgan Hunter

not helpful!

Morgan Hunter

Graham, thanks for your helpful response. I ran through both methods and find Method 1 suits my needs. Note that the 2015 version of Personal Plus allows you to enter the opening and closing balance so the stock issue price (cost base) is accurate, but you don't have an asset for the DRP Balance. This works better for me, plus I didn't see where in your method one how you were maintaining an accurate DRP balance after each transaction.

Morgan Hunter

Thanks for the reply Luke. "Reinvest Dividend" was not an option in my software version. The recommendations from Graham works. Thanks again.

David Hynd

I set up a DRP Cash Account where I hold all the DRP cash balances

Enter the dividend (Record an Income Event) into the account for your portfolio
Add the DRP balance to cash account for your portfolio
Buy the shares using the DRP price and date
Return the balance to the DRP Cash Account

Balance in cash account for your portfolio should be what it was before the DRP transaction and share holding for the stock increased by the no of shares allocated.

David Thompson

Call Out to Reckon - this dividend reinvestment where the cash received as Trust distribution is not recognized is not satisfactory. What are you doing about it? This has been going on since 2013! Get it fixed.

Anne Rogers

Hi Morgan

I have set up individual asset accounts for each share that I DRP. Eg NAB - Dividend Reinvestment.

I use the record an income event through the shares account and transfer it to the NAB - Dividend Reinvestment. I then 'buy' the new DPR allotment using the funds from the DPR account and the end balance is always available. So I use 2 transactions to account for the dividend and the new allotment of shares.

Similar to what David does but more individual for each share

Rob_8760723

Hello Kel,

I have the latest version of Reckon (2017) and the drop down on my screen reads REINVEST - INCOME REINVESTED. When I use this option to reinvest FUND DISTRIBUTIONS it reinvests double the amount of the distribution and adds the over investment amount into the fund account. Ala I have a fund distribution of $17k and Reckon recorded $35k. Way off the mark??

Kind Regards
Rob

Kel Luke

Hi Rob,

I guess just another one of Reckon's hidden extras! I have had a similar problem when trying to adjust the number of shares held. The drop down menu item suggests if you enter the correct number of shares held the program will automatically adjust the numbers but it never works that way. It seems to add the correct number to the existing one so I end up with double the shares. If only it was that easy to double your investments. I have given up trying to get the my Reckon holdings to line up with the actual numbers.

I am getting more nervous about upgrading to the "new" 2017 version.

Regards,

Kel

John G

Hi Rob, Kel,

Does the article: Reinvesting Fund income results in a negative Cash Balance in the Brokerage Account, shed any light on your situation?

regards,
John

Rob_8760723

Thanks John,

My problem is the opposite, it doubles the amount of the distribution. I won't use the re invest drop down again, as it doesn't work. I managed to just put a fake entry in the bank account and use it to cover the cost of the share distribution. I'll explain what I did to the accountant so he can correctly reconcile the bank account.

My accountant wants me to switch to xero as it should fix problems like this so I'll look into it for the future.

Regards
Rob