# Bookkeeping



## Fenkci (11 March 2011)

Hi Everyone

I am a newbie in this forum, also in share trading. I was just wondering how you guys do the bookkeeping for share trading activities?. Do you use accounting software for this or just a spreadsheet?


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## pixel (11 March 2011)

Fenkci said:


> Hi Everyone
> 
> I am a newbie in this forum, also in share trading. I was just wondering how you guys do the bookkeeping for share trading activities?. Do you use accounting software for this or just a spreadsheet?



 Welcome Frank;

I'm using a self-developed spreadsheet workbook -
http://rettmer.com.au/TrinityHome/Portfolio/index.htm

That's all I pass on to my Accountant at FY end.


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## tech/a (11 March 2011)

I use IB (Interactive Brokers)

Its all done for me brilliant
All I need do is hit print!


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## burglar (11 March 2011)

tech/a said:


> I use IB (Interactive Brokers)
> 
> Its all done for me brilliant
> All I need do is hit print!




My broker doesn't understand bookkeeping, so I download transaction history to a spreadsheet.


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## burglar (11 March 2011)

pixel said:


> Welcome Frank;
> 
> I'm using a self-developed spreadsheet workbook -
> http://rettmer.com.au/TrinityHome/Portfolio/index.htm
> ...




Tax Accountants have a portal to the ATO who already know about your trades.
I assume the ATO are linked to ASX or CHESS.


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## tech/a (11 March 2011)

burglar said:


> My broker doesn't understand bookkeeping, so I download transaction history to a spreadsheet.




Time for a new broker


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## Duckman#72 (11 March 2011)

burglar said:


> Tax Accountants have a portal to the ATO who already know about your trades.
> I assume the ATO are linked to ASX or CHESS.




Not quite right burglar. The ATO Portal lists dividends received but not buy/sell trades.

In fact the ATO Portal shouldn't be relied up to have all your dividends either. Same with interest received from bank accounts. The portal is only as good as the infromation provided by the companies and financial institutions.

In time the ATO will have access to all buy/sell transactions but at the moment that is an audit option for them only. It is not available to tax agents. 

Duckman


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## burglar (11 March 2011)

tech/a said:


> Time for a new broker




I am thinking to start SMSF 
With only 69K to kick start it, I am probably locked in to esuperfund
They will want me to be with Commsec.
So I am finding that I don't really control anything!?

Sorry Fenkci, its a little bit off topic


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## burglar (11 March 2011)

Duckman#72 said:


> Not quite right burglar. ...
> 
> Duckman



Sorry!!  
I did not mean to mislead!
I was just passing on, in good faith, what a tax accountant told me.


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## Fenkci (11 March 2011)

Thanks guys for all the information and a quick response. feel like I am gonna love this forum, hope it is not addictive 
I have been thinking of Sharesight, not sure any of youes have heard it, easy to use also syncs with accounting softwares so no more data entry.
I am also a bookkeeper helping businesses with their bookkeeping activities, just started with share trading, never had a share trader client before so I dont have bookkeeping experince in that area.


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## Julia (11 March 2011)

burglar said:


> I am thinking to start SMSF
> With only 69K to kick start it, I am probably locked in to esuperfund
> They will want me to be with Commsec.
> So I am finding that I don't really control anything!?



That's just silly, burglar.   
Yes, with a small balance you would be foolish to employ an accountant when Esuperfund will perfectly well suffice.  Many people are very happy with them.
You should not view them as some sort of inferior choice.

And what's wrong with Commsec?

You still control what investments you make.

Are you just looking for a reason not to act?
Often it's easier to just keep grizzling about the mismanagement of fund managers of Super rather than actually take the responsibility of doing it yourself.


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## burglar (12 March 2011)

Julia said:


> That's just silly, burglar.
> ...




What did I say now ??

I'm with netwealth. (Cheep, reliable, trustworthy, they have served me well)

You say Esuper, I find they want me to be with Commsec.

Tech/a says change broker. He is, of course, correct.
So now I want to be with IB.  

All the while, I like the sound of Paritrade. 

I am looking for a way forward, 
I do act, (slowly, responsibly)
when it happens I will post.


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## sharewammy (7 April 2013)

Hi Fenkci,

I used to printout my broker summary and sent to my Accountant by EOFY. Having the thought that I have the summary will help to reduce my tax fees and end up paying $1520 !!!! 

Anyway, I was recommend to this guy who apparently has all the tax knowledge to all financial tradings and subsequently my tax fees was been reduced to a third of what I used to pay! . It has been quite consistent over the year and I highly recommend you guys to try him seem to understand what the Accountants want.

PM me if you are interested.

cheers and good luck all

chuck.


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## AlterEgo (8 April 2013)

burglar said:


> What did I say now ??
> 
> I'm with netwealth. (Cheep, reliable, trustworthy, they have served me well)
> 
> ...




Hi Burgler,

Esuper don't require you to use Commsec. They have a few broker options, including IB!


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## Country Lad (8 April 2013)

Fenkci said:


> Hi Everyone
> 
> I am a newbie in this forum, also in share trading. I was just wondering how you guys do the bookkeeping for share trading activities?. Do you use accounting software for this or just a spreadsheet?




Married an accountant - problem solved.

I have a spreadsheet which accounts for trades, alarms when stops hit and lots of other stuff then part of it downloads into the wife's MYOB.

Cheers
Country Lad


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## xyzedarteerf (9 April 2013)

Country Lad said:


> Married an accountant - problem solved.




Same here did the same thing . the downside however is all the $$$ are tracked and monitored  I always charge the majority of my expenses as Misc expenses.


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## xyzedarteerf (9 April 2013)

Hang on why are we replying to a thread started 2years ago .


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## nysefloortrader (10 April 2013)

Country Lad said:


> Married an accountant - problem solved.
> 
> I have a spreadsheet which accounts for trades, alarms when stops hit and lots of other stuff then part of it downloads into the wife's MYOB.
> 
> ...




nice work!

MYOB is the bomb, get to know it, and works well with the good accounts we have here in OZ (When I say good accounts, do not get use to it, cause there are not to many of them)

1) if you do not know MYOB, get to know it, or get someone to teach you. 

2) if you do not want to learn go outsource it to someone who can use it properly, and knows all the little hidden functions too.


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