How do I set up investments other than shares in Home & Business?

Steve Brady
Steve Brady Member Posts: 3 Novice Member Novice Member
in Personal Plus and Home & Business

I passively invest in projects like land development, so I make capital payments into them and I receive interest, distributions, capital returns, sometimes rebates back from them. What is the best way to set this up in Home & Business?

Answers

  • Alexis McKeown
    Alexis McKeown Reckon Staff Posts: 596 Reckon Staff Reckon Staff

    Dear @Steve Brady ,

    Depending on if it's a Brokerage or Term Deposit, you can set this up under the as an Investment Account if you want to put it under a specific financial institution and if it's a tax-deferred record.

    Alternatively, if this is for business purposes and it will be kept similarly to a House, you could use the Business → House or Business → Asset account setup to have there be a purchase price and estimated value.

    You may want to reach out to @GerryWinter as he would be the expert about the specific setups. 🙂

    Kind regards,

    Alexis McKeown

    Reckon Senior Technical Support

    Alexis McKeown

    Reckon Senior Technical Support
    Working hard since 2018
  • Steve Brady
    Steve Brady Member Posts: 3 Novice Member Novice Member
    edited April 2

    Hi Alexis, thx for the ultra quick response! These investments are not of the kind you note, they are providing funding to developers who may, for instance, build a block of apartments and want funding to do that. They then pay interest over the period of the development on that funding (ie capital investment) and may also pay a share of their profit back to those backers on completion (a distribution). They may also have other transactions along the way such as admin fees a backer may be charged, capital returns on completion, etc. So how would I set H&B up? - for instance, what is the entry for making my initial capital investment payment to the developer?

  • Alexis McKeown
    Alexis McKeown Reckon Staff Posts: 596 Reckon Staff Reckon Staff

    Dear @Steve Brady ,

    I'm not too familiar with that particular setup in Reckon Personal Plus/H&B, and as such, I can't really think of anything that would give you the exact functions you're looking for.

    As I'm not wanting to lead you astray with guesses or near-similarities, you may want to reach out to one of our Professional or Accredited Partners that have more experience with the intricacies of the software, such as @GerryWinter, or searching for one nearby via our Partner Search website: https://partnersearch.reckon.com/ .

    Apologies as this does seem a bit outside normal operations for Personal/H&B - it is a very unique form of setup that I have not yet encountered on the Personal Range.

    Kind regards,

    Alexis McKeown

    Alexis McKeown

    Reckon Senior Technical Support
    Working hard since 2018

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