How do you enter a Dividend Reinvestment for a security within the ANZ / E*trade account?

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  • Updated 2 months ago
This problem only occurs for securities in my Investment at Quicken E*TRADE account.

I am attempting to add shares received by way of a dividend reinvestment plan to a security I hold in the Investment at Quicken E*TRADE account by using the Reinvestment - Income Reinvested option.  After entering all the relevant details and pressing Enter I receive the following message:
You already have a security with that name, please enter a different name.
If you are trying to enter a transaction for this security, select your investment account from the Account List and choose Enter Transaction.

I have no trouble entering shares in other non-E*trade accounts that are issued via a dividend reinvestment plan using the Reinvestment - Income Reinvested option.

Any ideas?
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Peter Barnett

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Posted 3 months ago

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David

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Record the investment income in the usual way. Buy the new shares at the DRP price. Move the balance of the dividend received to a DRP account (You will need to set this up). Tag or comment to show the security name to make sure you can identify it from other reps.
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Peter Barnett

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Thanks David, but what is the usual way?

When entering a dividend payment I was entering the amount straight into a bank account using Income / Investment:Dividends:Franked.  This shows up in the Tax report as Question 11 Dividends income - Franked.

When I enter dividend payments in an Investment account using the Record an Income Event, it doesn’t appear in the Tax report.

I want the Franked and Unfranked income to show in my tax report, but I also want the payments linked to the individual securities.

Why does Reckon have two ways of entering dividend payments, and which is the correct way to enter the payments?




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Peter Barnett

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Has anybody worked out the "usual way" yet?