Does anyone know how to get the tax/ tax free portions to show on the member's statements in Reckon Elite Ledger?

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  • Updated 6 months ago
Using Reckon Elite Ledger. I can't see any way of having the taxable % of the member's account showing on the member statement. Do I need to use report editor, or is there another way of doing it?
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Lauren

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Posted 6 months ago

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Michael Vella

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Hi Lauren,
I just had a look for you. Doesn't seem to be any reporting lines in the standard reports.
Reports don't even separate out preservation or taxable status break down on member information reports. No other reports from what I can tell. You could do a modified report and use the report editor (Good Luck with that!!! ) I wouldn't put time into it unless you need it on the report. Looking at the ledger, all accounts role into the one opening balance #551 so your taxable balance is going to be tarnished.

I only use Reckon Elite in relation to SMSFs for a handful of funds, all in accumulation phase, non making tax free contributions (ie non concessional). Obviously taxable % isn't going to be used much until pension phase or impact on tax-ability of withdrawals, definitely want to track the balances between taxable, tax-free and preservation status in the interim.

I'd recommend looking at BGL or Class if you've got got sufficient SMSF clients, at least 5 funds. Bit of a cost however if you got sufficient number of funds it is worth the investment. If you want to save money, keep a spreadsheet.

Feel free to contact me, would be great to how you are using Reckon Elite in your practice.

Regards,

Michael Vella
Marvel Consulting
03 9317 5019