ISSUE
How to record TFN withholding on disposal of an investment.
RESOLUTION
Navigate to Fund Level > Transactions > Fund Income > Interest Received
- Select the Investment Account from the drop-down menu
- Enter the Accounting Date and Tax Date
- Enter the TFN withheld amount in the "TFN Withheld Amount" field
- Enter a negative amount in the Net Payment field, this will make the gross payment zero ($0)
- Click on Submit
For the disposal event, enter the full disposal amount which will make the following journal entries:
Dr Cash In
Dr TFN withholding
Cr Disposal Event