How to enter Wesfarmers/Coles demerger?

  • 5
  • Question
  • Updated 6 months ago
How do I enter the Wesfarmer/Coles demerger in Personal Plus
Photo of Marion

Marion

  • 240 Points 100 badge 2x thumb

Posted 9 months ago

  • 5
Photo of John Mardling

John Mardling

  • 122 Points 100 badge 2x thumb
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.
Photo of Leanne Veitch

Leanne Veitch

  • 190 Points 100 badge 2x thumb
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

Photo of Richard

Richard

  • 702 Points 500 badge 2x thumb
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?
Photo of John Mardling

John Mardling

  • 122 Points 100 badge 2x thumb
Thanks Richard - I'll give it a go tomorrow.
Photo of Marion

Marion

  • 240 Points 100 badge 2x thumb
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
Photo of Richard

Richard

  • 702 Points 500 badge 2x thumb
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!