Reckon Accounts Personal Plus Error code 7110

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Kel Luke
Kel Luke Member Posts: 32 ✭
edited December 2017 in Personal Plus and Home & Business
I am attempting to enter a Reinvest dividend transaction but find that the "Action" drop down list is not  always displaying all options. When I have been able to access the "Reinvest Dividend" option and fill in the required fields I am getting the message "Reckon Accounts has encountered a problem ..." Error code 7110.  So my questions: how do I make this type of entry and secondly is Reckon doing anything to rectify this kind of problem?

Regards,
Kel Luke     

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  • John Campbell
    John Campbell Member Posts: 193 ✭✭
    edited February 2017
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    What version of Reckon Personal, the account type and the security type are you selecting ?

    If you are selecting a listed ordinary share, this should not be a problem.

    There have been some similar problems, relating to "unusual" (non typical) investment products. See the recent post:

    https://community.reckon.com/reckon/topics/how-can-a-managed-fund-negative-cash-balance-be-fixed-whe...

    If all else fails, You can split the transaction into 2 transactions, by entering a record income event (retaining the cash balance in the account), then purchase shares with the cash balance. This might also identify where the problem is occurring.

    John


  • Paul Blake
    Paul Blake Member Posts: 24 ✭
    edited December 2017
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    It would be investing to see what is actually being entered.
  • Kel Luke
    Kel Luke Member Posts: 32 ✭
    edited February 2017
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    Hi Paul,

    Is that a pun? It would be investing..?  Anyway thanks for your reply. The sequence is:  Investing/Security/Action - and when the drop down list is fully displayed there is an option ReinvDiv. At this point a proforma appears with fields to be filled in such as Security name, cash brought forward, un-franked dividend, franked dividend, imputation credit and a couple of others. Once these are entered the system automatically adds the entries (tho sometimes not correctly) for a total. Then below the total line there is a space for shares issued and cash carried forward. The system automatically calculates the price per share and provides a memo: Reinvested Dividend. The last step is to Enter/Done and at this point the program crashes.  Error 7110.

    Regards
    Kel
      
  • Paul Blake
    Paul Blake Member Posts: 24 ✭
    edited December 2017
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    Hi Kel.

    Sorry. Spelling mistake! I have seen that error before too. But I just can't remember the reason. Do you have a negative cash balance in your account?  Do you specify any cash (either opening or closing) in the entry? Is it a single security fund/multi security or brokerage? You are better using the Multiple Expense/Income entry to avoid Reckon's "best guesses". A screen shot would be helpful.

    Regards Paul
  • John Campbell
    John Campbell Member Posts: 193 ✭✭
    edited February 2017
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    Hi Kel,

    I apply transactions by opening the investment account, then use add transaction; rather than via the security. I am not sure if this is different to what you are describing.

    After add transaction is opened, I select the type of transaction, the security, date etc.

    For reinvest dividend, this allows for the dividend cash balance brought forward and then retains cash not converted to shares, which a lot of companies are doing.

    I have the same share in multiple investment accounts. In this case the multiple cash balances for each share/account are associated with the investment account and not the security. This may be causing your problem.

    ( Each Reckon investment account has a net cash balance, which is the accumulated cash balance of all companies retained dividend. In the past I may have forgotten to record the cash balance correctly, as some accounts have a (small) negative cash balance. It is an error in my records, that I have given up worrying about. It would be difficult to audit to find the error source )

    John

  • Kel Luke
    Kel Luke Member Posts: 32 ✭
    edited February 2017
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    Hi John,

    Thanks for the helpful tip.  I will attempt to follow your suggestion.and see if I can make the entries via the investment account. This is more annoying than a critical issue. However I feel it should  not be beyond the scope of an accounting program to be able to record a fairly straightforward transaction. Then again, maybe I am just getting old and grumpy.

    I will see how it goes. Thanks again,

    Regards,
    Kel     
  • Kel Luke
    Kel Luke Member Posts: 32 ✭
    edited August 2016
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    Hi Paul,
    Thanks for your continued interest. The security is Sydney Airport who pay un-franked. dividends. There was a small positive cash amount brought forward and a small cash balance carried over. As I have mentioned to John, this is more annoying than a critical issue. It is not a life support system - thank goodness, I would not want Reckon controlling one of those.  I am not too sure how I could get a screen shot onto this forum, although I see some icons along the bottom of this comment box.

    Regards,

    Kel.     

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