Investment Income workpaper (IIC)

How the IIC workpaper covers six income categories and how auto-triggered journals for interest and dividend gross-up work.

The Investment Income (IIC) workpaper reconciles income from investments across six categories. It is mostly manual because investment income is typically reported via external statements rather than ledger transactions. Once completed, this workpaper feeds tax-related data into the Taxation Due (ITD) workpaper.

Data extraction

This workpaper is manual (except for Interest on Overdrawn Current Account in the New Zealand Interest Received section, which is pulled from the IOA workpaper). Users need to enter the details manually.

Coverage

This workpaper covers the following income categories:

  • NZ Interest Received
  • NZ Dividends Received
  • Listed Portfolio Investment Entity (PIE) Income
  • Listed PIE Income - Excluded
  • Unlisted PIE Income
  • Overseas - Not Subject to Foreign Investment Fund (FIF)

Auto-triggered journals

There are auto-triggered journals in this workpaper for the following items once each section is completed:

  • Gross up Interest: Triggered once the Interest section is completed.
  • Gross up Dividend: Triggered once the Dividend section is completed.

Balance per General Ledger (GL)

Sum of all the codes mapped under the respective income section in Chart of Accounts (CoA) mapping.

Related workpapers

  • Interest on Overdrawn Current Account (IOA): Feeds the Interest on Overdrawn section.
  • Taxation Due (ITD): Pulls investment income tax data from this workpaper.

How to access

  1. Go to Jobs and open the relevant job.
  2. Click the Workpapers Icon or navigate to Results then Workpapers.
  3. Select IIC on the Workpapers Dashboard.