What is the best way to enter stock donations if you do not sell the stock?

JenniferBrambleyJenniferBrambley Posts: 34 ✭✭✭
5 Likes First Compass Anniversary 5 Up Votes Name Dropper
edited September 2023 in Finance & Operations

We received several shares of different stock from a donor and our investment manager decided not to sell some of the stock. If I enter the information in public securities, I have to then "sell" the stock in CSuite. Should I only enter what was sold and then enter the other portion as "other payment?"

This is the first time this has happened so I want to make sure I am entering it in properly.


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    MikePuccioMikePuccio Posts: 9 ✭✭
    Beer Expert Combo Breaker U.S.A. 5 Likes

    Hi there,

    I would recommend using the public security option. It provides the best transaction audit trail.

    I would enter the original gift, then sell as needed. If it never sells, that is OK. In CSuite, you do not have ever sell a pub.sec. item. It will remain in the ToSell section of pub.sec. as a reminder that the stocks are still with the broker.

    Another benefit of pub.sec. is that it will correctly record all accounting transactions as the securities are received and sold.

    Hope this helps.

    Mike Puccio

    Mike Puccio | Apiscommunityconsulting@gmail.com | 360-298-8881

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