Data Feeds

10.2.2 Bank Data Feeds: To Verify a Dividend Receipt Entry

Having selected a dividend receipt transaction from the data feed transaction list and selected the appropriate Category from the category list, you should now be viewing the Add New Income entry form for Dividend Receipts.

Use the drop-down calendar to select the date:

SDS data feeds - selecting a date

Enter the Franked and Unfranked Amounts.

Mclowd will automatically calculate the Franking Credit based on the Franked Amount entered.

The screen below shows the Add Dividend Transaction screen when entering an ANZ Dividend Receipt:

Posting a dividend trx

In the Income From Equities section in the centre panel, be sure you correctly enter the franked and unfranked dividend amount. These details can be obtained from statements supplied to you by the entity, or by visiting and entering the stock code OR the beginning of the company name.

ASX dividend information search

Locate the dividend for the applicable date. The information you need is the % franked and the franking rate:

ASX dividend data

Multiply the total deposit shown at Amount in the Data Feed Transaction Details by the % franked to determine the Franked Amount. Deduct the Franked Amount from the Total to determine the Unfranked Amount.

NOTE:  As at February 1, 2017, Mclowd automatically calculates and enters the dividend franking credit when you enter a franked dividend amount. You need only to check the ASX record or dividend statement to determine what percentage of the dividend was franked.

When all data is correctly entered, click the SAVE button to save the transaction and return to the data feed transaction screen.

Once this is done, Mclowd will insert a ”Verified” marker in the right column.

Bank trrx verified

Note: The Verified marker is underlined. By clicking the marker, you can view the transaction details you posted, or reverse an entry if you have made an error.

about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding. Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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