Reckon PP+ Reinvest function fails to debit share purchase price

Wayne_10864576
Wayne_10864576 Member Posts: 7 Novice Member Novice Member
in Personal Plus and Home & Business

 If the return is a distribution from a Fund/Trust, Reckon PP+ shows the price for the purchase of the new fund units as a negative cash amount in the account, instead of recognizing the distribution.

If I change the distribution to an unfranked dividend, the program does recognize the return and correctly attributes the purchase from this balance. However, this then incorrectly designates this transaction as an unfranked dividend when it is really a distribution from an ETF, skewing annual reports used for taxation.

Is there a fix for this problem?

Comments

  • Wayne_10864576
    Wayne_10864576 Member Posts: 7 Novice Member Novice Member

    P.S. I neglected to mention that I'm using Reckon Accounts Personal Plus 2021.

  • grmas1
    grmas1 Member Posts: 13 Reckoner Reckoner

    Was there ever an answer to this as I too have the same problem with reinvesting a distribution payment now.

  • Wayne_10864576
    Wayne_10864576 Member Posts: 7 Novice Member Novice Member

    I found a work-around. Enter the distribution as a non-franked dividend, then go to Transactions View and alter the Action from DivUF to CGLong.

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