Reckon Accounts Personal Plus Error code 7110

Kel Luke

I am attempting to enter a Reinvest dividend transaction but find that the "Action" drop down list is not  always displaying all options. When I have been able to access the "Reinvest Dividend" option and fill in the required fields I am getting the message "Reckon Accounts has encountered a problem ..." Error code 7110.  So my questions: how do I make this type of entry and secondly is Reckon doing anything to rectify this kind of problem?

Regards,
Kel Luke     

John Campbell

What version of Reckon Personal, the account type and the security type are you selecting ?

If you are selecting a listed ordinary share, this should not be a problem.

There have been some similar problems, relating to "unusual" (non typical) investment products. See the recent post:

https://community.reckon.com/reckon/topics/how-can-a-managed-fund-negative-cash-balance-be-fixed-whe...

If all else fails, You can split the transaction into 2 transactions, by entering a record income event (retaining the cash balance in the account), then purchase shares with the cash balance. This might also identify where the problem is occurring.

John

Paul Blake

It would be investing to see what is actually being entered.

Kel Luke

Hi Paul,

Is that a pun? It would be investing..?  Anyway thanks for your reply. The sequence is:  Investing/Security/Action - and when the drop down list is fully displayed there is an option ReinvDiv. At this point a proforma appears with fields to be filled in such as Security name, cash brought forward, un-franked dividend, franked dividend, imputation credit and a couple of others. Once these are entered the system automatically adds the entries (tho sometimes not correctly) for a total. Then below the total line there is a space for shares issued and cash carried forward. The system automatically calculates the price per share and provides a memo: Reinvested Dividend. The last step is to Enter/Done and at this point the program crashes.  Error 7110.

Regards
Kel
  

Paul Blake

Hi Kel.

Sorry. Spelling mistake! I have seen that error before too. But I just can't remember the reason. Do you have a negative cash balance in your account?  Do you specify any cash (either opening or closing) in the entry? Is it a single security fund/multi security or brokerage? You are better using the Multiple Expense/Income entry to avoid Reckon's "best guesses". A screen shot would be helpful.

Regards Paul

John Campbell

Hi Kel,

I apply transactions by opening the investment account, then use add transaction; rather than via the security. I am not sure if this is different to what you are describing.

After add transaction is opened, I select the type of transaction, the security, date etc.

For reinvest dividend, this allows for the dividend cash balance brought forward and then retains cash not converted to shares, which a lot of companies are doing.

I have the same share in multiple investment accounts. In this case the multiple cash balances for each share/account are associated with the investment account and not the security. This may be causing your problem.

( Each Reckon investment account has a net cash balance, which is the accumulated cash balance of all companies retained dividend. In the past I may have forgotten to record the cash balance correctly, as some accounts have a (small) negative cash balance. It is an error in my records, that I have given up worrying about. It would be difficult to audit to find the error source )

John

Kel Luke

Hi John,

Thanks for the helpful tip.  I will attempt to follow your suggestion.and see if I can make the entries via the investment account. This is more annoying than a critical issue. However I feel it should  not be beyond the scope of an accounting program to be able to record a fairly straightforward transaction. Then again, maybe I am just getting old and grumpy.

I will see how it goes. Thanks again,

Regards,
Kel     

Kel Luke

Hi Paul,
Thanks for your continued interest. The security is Sydney Airport who pay un-franked. dividends. There was a small positive cash amount brought forward and a small cash balance carried over. As I have mentioned to John, this is more annoying than a critical issue. It is not a life support system - thank goodness, I would not want Reckon controlling one of those.  I am not too sure how I could get a screen shot onto this forum, although I see some icons along the bottom of this comment box.

Regards,

Kel.