How to enter Wesfarmers/Coles demerger?

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How do I enter the Wesfarmer/Coles demerger in Personal Plus
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Marion

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Posted 1 year ago

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John Mardling

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I'm no expert, but I think we'll have to wait until we know what the cost base is of the Coles shares. Related to that, I can't add the COL (COL.AX?) index either.
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Leanne Veitch

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Now that we know the cost base split that goes with Coles grp taken from Wesfarmers I can't see the best option in Reckon after trying a few options.  Any tips?
Thanks

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Richard

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I don't know if you have solved the query above, but I successfully used the "Corporate Securities Spin-Off" option available in the Drop Down box under "Enter Transactions" for your Investing Account.  As per advice on the Wesfarmer's website Coles value to use is $12.8459 and Wesfarmers $31.5848.
Frustratingly as per John's advice above Coles prices are still not coming through on the Automatic update - any clues?
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John Mardling

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Thanks Richard - I'll give it a go tomorrow.
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Marion

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Thank you for your reply. Can you tell me if I am completing the Corporate Securities Spin-Off in the correct way?
Security name: Wesfarmers Ltd
New Company: Coles Group Ltd
New shares issued: 1    per old share
Cost per old share: $31.5848
Cost per new share: $12.8459

Greatly appreciate help. It's a pity Reckon can't come to the party and post a simple step by step explanation on how to enter to demergers when so many of their clients are affected.

Marion
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Richard

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Marion

You seem to be on the right track, it is a little while since I did it.  

One issue that I found was that I already had Coles added in to my file as I was already tracking its share price - I had to change the Ticker Symbol to a temporary COLX first so the Spin-Off would go through as I was getting an error message saying that Coles already existed.  Then I did a merge of COLX back to COL and all was fine.  Messy, so suggest backup before you start!
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Richard

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To change ticker symbols follow the advice below from the Reckon Help Menu:

Change a security's ticker symbol
  1. Choose Investing menu > Security List. 
  2. Select the security you want to make the ticker change for.
  3. Click Edit.
  4. In the Symbol field, delete the old ticker symbol and type the new one.
  5. Click OK.
    • What happens now? Reckon Accounts prompts you as to whether you want to keep the price history associated with the old ticker symbol, or delete the history and start over. The recommended procedure is to keep the price history.
  6. When Reckon Accounts prompts you as to how you want to handle the price history, select Copy quotes from [old ticker] to [new ticker].