Managed funds unit reinvestment

Leanne Veitch
Leanne Veitch Member Posts: 10
I have downloaded the prices and investment reports for unit funds at 30 June for an SMSF but I have received statements with unit reinvestment which of course increases the units held.  I have read how to process these units in Reckon....i think....I presume its an increase in investment while accruing the distribution income.  The unit price has also changed.  Should the year end reports be run again manually to include these changes to prepare them for the auditor?

Comments

  • Leanne Veitch
    Leanne Veitch Member Posts: 10
    edited July 2016
    I remember now that reinvested units are processed on 1 July so that solves the issue...I think
  • Leanne Veitch
    Leanne Veitch Member Posts: 10
    edited July 2016
    Thanks for your comments
    I found out from the SMSF auditor that they want the distribution income to be a receivable BUT use the ex price rather than the cum price for year end valuation so is another variation on what you noted above.  This also prevents double counting of the distribution income and the CPU it represents.
    As I have already downloaded the portfolio using the prices at 30 June (which uses cum prices for the managed funds) can I edit those prices to change them to ex prices or is this edit only possible when I have downloaded it to excel?