The following transactions are created for a sold stock gift:



1. Debit transaction for the sale price of the stock

2. Credit transaction for the sale price of the stock

3. Debit transaction for the Gain/Loss amount

4. Credit transaction for the Gain/Loss amount


 


 


For example, a $1,000 Stock/Property gift is sold for $1,500. When the gift is posted, the following transactions are created.  Please note that the $1,000 Unsold Stock/Property gift would have already been posted to The Financial Edge.  


1. Debit transaction for $1,500
2. Credit transaction for $1,500
3. Debit transaction for $500
4. Credit transaction for $500

Additionally, if the Stock gift includes a Broker Fee, we will see a separate Debit and Credit transaction for the Broker Fee when posting the Sold Stock gift.


To view the GL distribution for the Sold/Stock property gift:

1.    Search for an open the gift record
2.    Select gift from the menu bar
3.    Select Sold Stock/Property Information
4.    Click View GL Distribution in the window that comes up
5.    View the GL distribution related specifically to the selling of the stock property