Investment Schedule workpaper (IIC)

The Investment Schedule (IIC) workpaper tracks each share or managed fund holding separately: opening position, purchases, sales, reinvested distributions, and the resulting capital gain or loss.

Carrying forward prior-year holdings

Each holding still showing a closing balance greater than zero in last year's Investment Register is carried forward into the current year. Holdings that closed out to zero last year are dropped. Transactions described as Dividend, Distribution, Profit on Sale, or Loss on Sale are skipped when carrying forward, they're not holdings, they're events. Dividend Reinvestment and Distribution Reinvestment transactions are the exception, those are carried through since they represent new units.

●        Opening quantity and opening dollar value: both taken from the prior year's closing figures for that same holding.

Data extraction, current year activity

●        Name of Shares: matched against the broker transaction report (for example CommSec); if a holding's name isn't already in the register, a new heading is added.

●        Buy transactions: quantity and dollar amount picked from the report, matched against keywords such as Buy, Purchase, Addition, Total Unit(s), Total Quantity/Quantities.

●        Sell transactions: quantity and dollar amount picked the same way, matched against Sell, Sold, Subtraction, Total Quantity/Quantities, Total Unit(s).

●        Bonus/DRP (Dividend Reinvestment Plan) units: picked up wherever the statement uses the keywords DRP, Dividend Reinvestment Plan, Bonus, Management Fee Rebate Reinvestment, or Reinvestment, capturing date, description, and dollar value. Multiple such transactions in a period are each added as their own line, in date order.

Profit or loss on sale

●        Where a holding is sold down to zero in one transaction, profit or loss is calculated as opening value plus purchases less the sell value.

●        Where a holding is sold in stages across more than one transaction, each stage's profit or loss is calculated against the opening balance and purchase quantities available at that point, rather than treating the whole year as one disposal.

●        The description automatically reads "Profit on Sale" or "Loss on Sale" depending on whether the calculated figure is negative or positive respectively.

Capital gain or loss classification

●        Where the gain is positive: if the holding period between purchase and sale exceeds 365 days, it's classified "Discountable"; otherwise "Other".

●        Where the result is negative, it's classified "Loss" directly, no holding-period test applies.

Validation against the Balance Sheet

Note: The Investment Register's total investment value is checked against the Balance Sheet accounts (Shares in Listed Companies, Shares in Unlisted Companies, Shares in Overseas Companies, Managed Investments, Investments in Managed Funds). If the totals don't agree, "Human Intervention Required" is shown directly beneath the total, rather than the mismatch being silently accepted.

How to access

●        Go to Jobs and open the relevant job.

●        Click the Workpapers icon or navigate to Job Results then Workpapers.

●        Select IIC on the Workpapers Dashboard.