Sell shares of a stock payment

1. Access the record of the Stock payment to sell. For information about how to access a payment record, refer to Search for Transactions.

2. Under Tasks, select Sell stock. The Sell stock screen appears.

3. In the Date of sale field, select the date your organization initiates the stock sale transaction.

4. In the Sale amount field, enter the amount your organization receives from the sale of stock.

5. In the Fees field, enter the amount paid to sell the stock, such as to a broker or agent. If you include the revenue in a Post to GL process, this amount posts as an expense, separate from the loss or gain amount.

6. In the Units sold field, enter the number of the shares, or units, sold.

7. In the Price per share fields, enter the low, median, and high prices at the time of the sale.

8. In the GL post status field, select whether to post the transaction to the general ledger. To include the transaction when your organization next runs the process to post revenue to the general ledger, select "Not Posted."

9. In the Loss or Gain field, the program automatically calculates and displays the amount gained or lost from the sale of the stock. If you include the revenue in a Post to GL process, this amount is the amount that posts to the general ledger.

   In the Units remaining field, the program displays the number of units remaining from the original contribution of stock after the sale of stock.

10. Select Save. You return to the payment record.

    • The Payment method field indicates that the stock is sold and the amount at which your organization sold it.

    • On the GL Distributions tab, the Sold Stock GL distributions grid appears. For information about this grid, refer to General Ledger Distributions.

    • On the Stock Sales tab, the Stock sales grid displays the information entered during the sale of stock. For information about how to edit this information, refer to Edit sold stock information.