This article will teach you how to process a collectible purchase.
Navigate to Fund Level > Transactions > Investment - Buy > Collectible Item Purchase
- Select Investment Account (This is the collectible item that is being purchased)
- Enter Contract Date (The date the agreement to acquire the asset took place)
- Enter the Settlement Date (The date on which the transfer was completed)
- Enter Consideration amount (The total acquisition amount for the asset)
- Enter GST in Consideration, which is the total GST applicable to the purchase price. (Only applicable if Fund is registered for GST).
- Enter Total Brokerage (If applicable)
- Enter Brokerage GST, which is the GST applicable to the brokerage. (Only if Fund is registered for GST).
- Total Cost (Auto-populated based on the amounts entered)
- Enter Description (Use the default "Collectible Item Purchase")
Learn how to process income for your collectible.