I recently sent some money from my bank account to a share purchase plan.
This transaction showed up as a purchase of 375 shares, and the debit was $10,000.
However, the company only allocated me 75 shares and returned $9000 to my original bank account.
To have this appear neatly in Manager, I set up a Share Purchase Clearing Account in the hope of recording the transactions via that.
However, when I went to edit the original debit of $10K, Manager only offered me the option of paying for the shares from one of my bank accounts, not from any clearing account.
Is there a tidy way to do this?
No. Only cash and bank accounts can receive or disburse funds. The debits or credits to them will be offset by opposite postings to other accounts.
OK.
Thanks Tut, for clearing that up.
After your advice, I worked out that I could add a line to the original $10K debit, and split the amount so that $1K was for the share purchase and $9k got transferred to the Clearing account.
Then when the Company returned the $9K to my bank account, I showed that as a transfer back from the Clearing account.