Weird dividends postings

Gee, Norman on

I am not sure what the end of year statements would say, but we hold a foreign stock that at the broker posted the same dividend and foreign tax withheld 3 times and within hours reversed 2 of the sets of dividends and foreign tax withheld. In other words posted 2 negative dividend and 2 positive foreign tax withheld. In bivio account sync I see 3 dividend payments and 5 foreign tax withheld. I see no negative dividend payments and no positive foreign tax withheld to reverse the wrong payments. My brokerage cash balance no longer matched their numbers.

John Rice on

You need to send this to support@bivio.com

On Thursday, June 4, 2015 10:05 AM, "Gee, Norman" <Norman.Gee@LC.CA.GOV> wrote:

I am not sure what the end of year statements would say, but we hold a foreign stock that at the broker posted the same dividend and foreign tax withheld 3 times and within hours reversed 2 of the sets of dividends and foreign tax withheld. In other words posted 2 negative dividend and 2 positive foreign tax withheld. In bivio account sync I see 3 dividend payments and 5 foreign tax withheld. I see no negative dividend payments and no positive foreign tax withheld to reverse the wrong payments. My brokerage cash balance no longer matched their numbers.

Laurie Frederiksen on

Hi Norman,

We see this at times with foreign stocks. Because their reporting is sometimes different than ours, the information on distributions can be hard to decipher by the brokers. This can lead to changes in initial entries they make.

AccountSync has no way to make sense out of the type of entries you describe so you need to manually correct your records when/if this happens.

If you don't know how to do this, send a copy of your brokers statement showing the transactions to support@bivio.com (Not to this list), and we'll be glad to help you get it straightened out.

Laurie Frederiksen
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