Hi, The brokerage charges usually come on top of the share price as a service fee charged to your brokerage account. I would use the gross pricing method as the expenses will be deductible as brokerage fees and you would use the share price and number to calculate the capital gains nott the nett price. GnuCash's The transaction to record this is:
Asset:Bank Cr 2935.35 Asset:Shares 500@$5.01 Db $2880.75 Expenses:Shares:Brokerage Db 54.60 Unless you are registered or required to be registered for GST then you can ignore the GST. If you are close to the turnover threshold for GST registration with your share trading (or combined turnover if you operate other enterprises as the same entity), it would probably pay to start to track GST so you know when you go over the threshold. https://www.ato.gov.au/general/capital-gains-tax/shares,-units-and-similar-investments/shareholding-as-investor-or-share-trading-as-business-/ , https://www.ato.gov.au/Business/GST/In-detail/GST-issues-registers/Financial-services---questions-and-answers/?anchor=a4_6 . You can also register under the threshold and claim GST credits, but it is optional then. The brokerage fees etc will of course be deductible against any income which is the main reason for recording them. You also have the correct value for CGT calculations in Australia which is not the nett price. Please CC gnucash-user@gnucash.org in all replies to ensure the full conversation appears on the list David On Sun, 2019-01-06 at 17:41 +1030, Xboxboy Mageia wrote: > > > On Sun., 6 Jan. 2019, 3:15 pm Xboxboy Mageia <xboxboy.mag...@gmail.com wrote: > > > > On Sat, Jan 5, 2019 at 11:35 PM David Cousens <davidcous...@bigpond.com> > > wrote: > > > XboxBoy > > > > > > I've done this recently with a superannuation pension fund. I had > > > initially > > > entered an Opening Balance from mid last year and the transactions forward > > > from that. I already had data for the pension payments entered as income > > > (not taxable in my case for this fund which is taxed in the hands of the > > > fund administrator), but not the fund itself as an asset and the > > > investment > > > returns and fees charged, payments to me out of it etc. I took it back six > > > months at a time using the six monthly statements/transaction records I > > > had > > > on file. Just changed the date on the opening balance transaction to the > > > new > > > starting date and the balance at that date, then entered the investment > > > returns, fees pension payments etc between the new opening balance date > > > and > > > the previous one. Checked that the opening and closing balances for that > > > period still agreed with my statements. > > > > > > I had to do a bit of trickery as I receive the pension payments paid > > > directly into my bank account from the fund administrator. To be able to > > > reconcile that with the bank statements, I could not record my pension > > > payments simply as decreases (credits) to the fund and increases in my > > > bank > > > account. I set up a separate Income and Expenses account to record the > > > Investment return to the fund and expenses associated with that. An > > > additional Expenses account recorded the pension payments as decreases > > > (credits) to the asset account for the fund. My entries for the pension > > > payment are a bit complex. a 4 way split records both the payment into my > > > bank account as income and the reduction in the asset value as an expense > > > against the fund. > > > > > > Asset:Bank > > > > > > Db xxxx > > > Income:non-taxablePension > > > > > > Cr xxxx > > > Expenses:non-taxablePensionFund:pensionPayments Db xxxx > > > Asset:non-taxablePensionFund > > > > > > Cr xxxx > > > > > > where xxxx is the pension payment I receive from the fund. Recording the 6 > > > monthly investment returns looked like: > > > > > > Asset:non-taxablePensionFund Db > > > nett investment return > > > Expense:non-taxablePensionFund:Fees&Taxes Db fees and > > > taxes > > > Income:non-taxablePensionFund:InvestmentReturn > > > > > > Cr Gross invetment return > > > > > > Once your back to the original purchase transaction and have entered it > > > you > > > can then delete the opening balance transaction for that stock > > > completely. > > > Once I had it all in, I reconciled it forward against the statements to > > > check I had it right. As others have noted you have to be careful. If you > > > are in Australia, you aren't taxed on unrealized gains/losses. You can > > > still > > > track them in an equity account though if you have access to the > > > historical > > > price information. > > > > > > Regards > > > > > > David Cousens > > > > > > > > > > > > ----- > > > David Cousens > > > -- > > > Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html > > > _______________________________________________ > > > gnucash-user mailing list > > > gnucash-user@gnucash.org > > > To update your subscription preferences or to unsubscribe: > > > https://lists.gnucash.org/mailman/listinfo/gnucash-user > > > If you are using Nabble or Gmane, please see > > > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > > > ----- > > > Please remember to CC this list on all your replies. > > > You can do this by using Reply-To-List or Reply-All. > > > > Thank you for all your replies. I haven't studied each in detail, but my > > suspicions are confirmed: Gnucash is > > flexible enough I can work what ever way, works for me. > > > > Looking at the tutorial guide again: I would like to track my capital > > gains/losses, so I believe I need to use the > > net pricing method? > > > > The way I understand this is for example: > > I have one stock: Total cost of purchase: $2,935.35 > > Consisting of: > > 575 shares @ $5.01 = $2,880.75 > > Brokerage of $54.60 (GST of $4.96 but as an individual I can't claim this > > so I imagine I disregard this, and claim > > the total brokerage cost as an expense??) > > > > So in the tab, I enter the cost as $2,880.75, > > the brokerage cost appears out of the account that purchased the shares? > > > > Apologies if my terminology is a bit muddled. > > > > After reading the buying shares section several times,I believe I was wrong. > I want to be using gross pricing. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. 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