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How do you record a purchase of public stock shares?

CameronCameron Member Posts: 32

I am confused about how to record a transaction of purchasing a stock ETF. What do I need to add in Wave?

in Accounting Technical Support

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  • CameronCameron Member Posts: 32

    I had a great session with a Wave accounting advisor. Here's the answer I came up with:

    • Transfer money into Brokerage - Transfer from Checking - Debit - $300
    • Purchase stock ETF - Short-term investments - Credit - $105
    • Get dividends - Dividend income - Debit - $1.05
    • Sell stock shares - Split-transaction (1. Short term investments - $105, 2. Short term capital gains $3.00)

    Also found here:
    https://community.waveapps.com/discussion/comment/45718#Comment_45718

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