How do I record prior years tax deferred and tax free amounts for the fund investments when entering opening balances?
Prior year taxable distribution components (tax deferred, tax free etc.) can be recorded in the More Details Panel of the respective line items when inputting comparatives for distributions (23800).
In this scenario, Opening balances are being entered as at 30/06/2015.
|From the Main Toolbar, go to Accounting.|
|Select Transaction list from the list.|
|Select the New Transaction.|
|Select an account||
Select Account 23800/INVESTMENTCODE
|Amount||Input 0 in the credit field|
|More Details Panel||Click|
|Other Non-Assessable Amounts||Input the total prior years Tax-Free and Tax-Deferred amounts into the appropriate fields|
The balancing account can be recorded to account 49000. Input 0 in the debit field
To save the transaction, select Post.