Confirming automatically generated dividends and capital returns
Once you’ve added your buy and sell trades into Stock Doctor (using the import tool or manually), Stock Doctor will automatically generate dividends and capital returns where you held the stock on the ex-date.
For the automatically generated dividends and capital returns to be accurate, the holding must have all trades added.
The automatically generated dividends and capital returns are calculated and recorded from the buy and sell trade data you have added into your Stock Doctor portfolio and the dividend information Lincoln has received from the ASX. There can sometimes be discrepancies between ASX data and the dividends you received, e.g. due to rounding or differing rates used for currency conversion. As such, automatically generated dividends and capital returns can require adjusting and need to be confirmed against your broker confirmation statements.
Automatically generated dividends and capital return adjustments will have an ‘unconfirmed’ transaction Status in Stock Doctor.
Unconfirmed automatically generated dividend and capital return transactions need to be confirmed. We recommend you check your dividends against the dividend statements you receive from the share registry.
There are multiple ways you can confirm auto-dividend and capital return transactions in the portfolio manager:
- On the individual Securities screen, by clicking the Confirm button alongside the capital return or dividend.
- On the Reconcile Tab, by clicking the Confirm button alongside the capital return or dividend.
** With methods 1 & 2 you can confirm multiple transactions at once, by ticking the boxes on the left of the unconfirmed transaction, then clicking the ‘confirm’ button at the top of the section.
3. On the Reconcile Tab, you can confirm all transaction up to a selected date, by clicking Add Reconciliation Date, entering a date you want to confirm all (unconfirmed) trades. e.g. end of the financial year. Then, click Proceed.
On the Reconcile Tab, unconfirmed transactions are denoted by the word Unconfirmed under the Status column.
You can review and edit an individual transaction, by clicking the Confirm button.
Click Save (to confirm and save transaction)
Portfolio Reconciliation (adding a reconciliation date)
Once you have reviewed all automatically generated dividends and return of capital adjustments, you can add a Reconciliation Date. This will lock transactions up to that date, so they won’t change even if the data Lincoln receives from ASX for dividends prior to this date does change.
Simply, navigate to the Reconcile tab, Add the reconciliation date, enter a reconciliation note (optional) and then click Proceed.
** We recommend that you reconcile your portfolio at least to the end of the financial year when you submit your tax return.
You can Revert to the previous reconciliation date by clicking the Revert to dd/mm/yyyy button.
A list of previously entered reconciliation dates can be found at the bottom of this box:
Confirming automatically generated dividends and capital returns is crucial to ensure the accuracy of return figures and tax reports produced by Stock Doctor.