Allocating dividends from suspense (Pro version)
Users on the Pro version and above are able to allocate suspense entries through a more contemporary, tabulated interface designed to improve workflow.
Once you have imported your bank data:
- Choose Suspense Allocation from the Transactions menu
- You will then see the Allocate Suspense Entries screen
- On the above Edit Record we have left the Member Account as Fund as the ANZ share is a fund asset.
- When the screen first appears, the Account will be pre-selected as 2-9999 – Bank Clearing Suspense Unallocated
- To change the Account, choose the Right down arrow and a list of alternative options will display. You then choose the most appropriate option. In our example, we have selected the 4-1010 – Income – Equities.
- Choose In – Dividend as the Transaction Type
- Choose the correct Direct Equity, which in this case is ANZ
- Using the dividend statement enter the Unfranked and franked dividend amounts making sure it equal the amount specified above at Amount ($500 in this case). The franking credit is automatically calculated
- If required, you can change the Description to something more meaningful.
- Once you have chosen the Account, you then choose UPDATE
- You will now see the Allocate Suspense Entries screen again. You can then choose the next transaction to allocate
- It is important that you always select the correct Direct Equity and enter the correct amounts for unfranked and franked dividends.
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