adjusted 1099

Gina Koehl on

If I go back and adjust the dividend rec'd, it changes the
cash account. As an example, we rec'd it as a cash dividend
and it went into the cash account. If I go back and alter
it, it will alter the cash account....am I doing something
wrong? Can you give me an example? Sorry...I must be
missing something!

Laurie Frederiksen on

Dear Gina,
Your total entry for a specific date should equal the amount of the original dividend received. If
the entire original dividend received should now be Return of Capital, just edit that income
transaction and change the distribution type.

If only part of a dividend should now be considered ROC, you will end up with two entries. You
will have to enter a new income transaction for the Return of Capital portion and then edit the
dividend you originally entered to lower it by the amount you have now classified as Return of
Capital.

Laurie Frederiksen
bivio Inc.

If I go back and adjust the dividend rec'd, it changes the
cash account. As an example, we rec'd it as a cash dividend
and it went into the cash account. If I go back and alter
it, it will alter the cash account....am I doing something
wrong? Can you give me an example? Sorry...I must be
missing something!

koehlg on

Laurie, thanks for the help. When I go into the original transaction of getting the dividend and change it to return of capital, my cash account changes? Is that not how it is suppose to be? what offsets the return of capital? Sorry! I am getting frustrated and can't balance. Is there a way to look at the years' transactions and sort them?

Gina

----- Original Message -----
From: "Laurie Frederiksen" <laurie@bivio.com>
To: "The Club Cafe" <club_cafe@bivio.com>
Sent: Sunday, March 29, 2009 2:02:40 PM GMT -08:00 US/Canada Pacific
Subject: RE: club_cafe: adjusted 1099

Dear Gina,
Your total entry for a specific date should equal the amount of the original dividend received. If
the entire original dividend received should now be Return of Capital, just edit that income
transaction and change the distribution type.

If only part of a dividend should now be considered ROC, you will end up with two entries. You
will have to enter a new income transaction for the Return of Capital portion and then edit the
dividend you originally entered to lower it by the amount you have now classified as Return of
Capital.

Laurie Frederiksen
bivio Inc.

If I go back and adjust the dividend rec'd, it changes the
cash account. As an example, we rec'd it as a cash dividend
and it went into the cash account. If I go back and alter
it, it will alter the cash account....am I doing something
wrong? Can you give me an example? Sorry...I must be
missing something!

Laurie Frederiksen on

Gina,

Why don't you send me an email at support@bivio.com . Tell me the specific transaction and security you are working on and I'll look at your records. I'm not sure what you mean by your "Cash Account" but your cash balances should not be affected by the entries you need to make. The total cash is the same. It is just being classified differently.

Laurie

From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of koehlg@comcast.net
Sent: Sunday, March 29, 2009 6:09 PM
To: The Club Cafe
Subject: Re: club_cafe: adjusted 1099

Laurie, thanks for the help. When I go into the original transaction of getting the dividend and change it to return of capital, my cash account changes? Is that not how it is suppose to be? what offsets the return of capital? Sorry! I am getting frustrated and can't balance. Is there a way to look at the years' transactions and sort them?

Gina

----- Original Message -----
From: "Laurie Frederiksen" <laurie@bivio.com>
To: "The Club Cafe" <club_cafe@bivio.com>
Sent: Sunday, March 29, 2009 2:02:40 PM GMT -08:00 US/Canada Pacific
Subject: RE: club_cafe: adjusted 1099

Dear Gina,
Your total entry for a specific date should equal the amount of the original dividend received. If
the entire original dividend received should now be Return of Capital, just edit that income
transaction and change the distribution type.

If only part of a dividend should now be considered ROC, you will end up with two entries. You
will have to enter a new income transaction for the Return of Capital portion and then edit the
dividend you originally entered to lower it by the amount you have now classified as Return of
Capital.

Laurie Frederiksen
bivio Inc.

If I go back and adjust the dividend rec'd, it changes the
cash account. As an example, we rec'd it as a cash dividend
and it went into the cash account. If I go back and alter
it, it will alter the cash account....am I doing something
wrong? Can you give me an example? Sorry...I must be
missing something!

iras1 on

If all you do is change the distribution type from dividend to return of capital there will be no change in your cash account.

If you only change part of the distribution to return of capital you need to make sure that you still have a dividend transaction and that the two transactions sum to the total amount you received on that date.

Ira Smilovitz

In a message dated 03/29/09 18:09:41 Eastern Daylight Time, koehlg@comcast.net writes:

Laurie, thanks for the help. When I go into the original transaction of getting the dividend and change it to return of capital, my cash account changes? Is that not how it is suppose to be? what offsets the return of capital? Sorry! I am getting frustrated and can't balance. Is there a way to look at the years' transactions and sort them?