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