Almost everything in Sharesight makes tax time simple, except when trying to reconcile annual tax statements from managed funds (and ETFs) with the ‘Enter Annual Tax Statement Components’ option in the Taxable Income Report page. The label headings in Sharesight don’t match anything on the tax state…

Hi @Shirl yes please send through your Annual Tax Statements to support@sharesight.com and the support team should be able to point you in the right direction. You can also share a screenshot here as long as you remove your personal information from the statement too!

I have just entered all my figures for Vanguard VGE and come up $8.23 short (“recalculated net amount” versus the Computershare net cash distribution). That $8.23 corresponds precisely to the “Non primary production income” attribution shown on the statement, which is not required to be entered any…

Hi @hmof I’d say to look through this section to find what the $8.23 is made up of. If you haven’t already, reach out to our support team regarding this and we’ll be able to help you directly :+1:

Thanks Jack. As I wrote the $8.23 is exactly the figure under "Non primary production income” on the Vanguard statement, but the instructions on the help site don’t require to put that figure in anywhere on Sharesight. However this results in a discrepancy in the end result.

I do not like the confusing way Sharesight handles EOFY Trust and AMMA statements. The distribution payment advice was intended to notify the investor of the cash distribution and was never intended to record the detailed source of the income. That is the purpose of the EOFY Trust or AMMA statement…

Totally agree. It is waste of time and counter productive, what Sharesight does. No way tallying with what accountants are doing where they exactly reflect company’s AMIT statements. My accountant got it easy and their data tallies with AMIT statement fields. Now I am deleting all trust distributi…

Particularly for funds, AMIT entry changes already reconciled periodical distribution amounts. That caused lot of inconveniences. Tax statement reconciliation is okay to some extent for ETF’s but not at all for funds. To make it effective, following way may be of use for further comments and recon…

Hi @rn233343 @Fractal Just some points to add here: We receive data for the below listed ETFs, for any managed funds these need to be manually entered. [image] The Pro Rata is there mainly to help you keep your CGT and cost base accurate since all that data is only available in your AMMA tax st…

Hi Jack I understand what Sharesight is doing, what I am trying to understand is why. We agree the EOFY AMMA statement is a tax statement containing all the taxable components. The question then is why not use it to create a single unambiguous EOFY entry? Sharesight’s method modifies the cash dis…

Managed Fund Tax Statement Reconciliation

Reporting & tax

mwse 4 September 2021 02:24 45

Here’s part 2 - dealing with linking to Xero
Xero guides - Managed Fund Statements & year-end adjustments (part 2) )

Topic		Replies	Views
Xero guides - Managed Fund Statements (part 1) Sharesight features	2	1729	21 June 2022
EOFY AMIT Statements Reporting & tax	1	482	7 August 2023
Australian ETF Components now updated for FY 2020-2021 Reporting & tax	9	2416	8 March 2023
When does Sharesight pre-fill Trust / ETF fields Reporting & tax	1	680	23 August 2021
AMIT, Prefil, CGT, Income. What do I do? Reporting & tax	1	781	3 June 2023

Managed Fund Tax Statement Reconciliation

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