Navexa will automatically calculate dividend payments on your stock holdings. To ensure accuracy, cross-check the net dividend amount on Navexa with the total deposited into your bank account for stocks.
When a dividend payment is automatically calculated, it requires you to check the amount is correct and 'Confirm' it.
Confirming a dividend means the Navexa system will no longer update that record if other data changes. For example, editing a historical trade will no longer recalculate the dividend payment. Incomplete trade history can cause inaccuracies in these calculations, so always ensure your trade records are complete.
It is good practice to confirm all of your dividends so that you can generate your tax reports with confidence everything is correct. Proper verification and handling of dividends ensure both portfolio accuracy and reliability.
For ETFs
ETF holders, such as those with iShares or similar funds, receive an AMIT (Attribution Managed Investment Trust) statement at the financial year's end. To confirm ETF dividends:
Wait for the AMIT statement issued annually by the fund manager.
Input this income information as per the AMIT statement’s details into Navexa.
How to know when dividends need confirming?
On the 'Overview' page, a green circle with a number in it, will appear when dividends need confirming.
The above screenshot is showing there are 4 dividends which need confirming on this 'NAB' holding.
How to confirm the dividends?
1. Navigate into the holding you wish to confirm dividends for and click the 'Income' tab.
You can see in the above screenshot, there are four arrows pointing to the 'Confirm' button for each dividend.
2. Click the 'Confirm' button on the dividends you wish to confirm.
How to 'Unconfirm' a dividend?
There might be an instance where you accidentally confirm a dividend.
In the above screenshot we have accidentally confirmed a dividend.
1. To change this, click the 'pencil' icon on the dividend.
2. At the bottom of the 'Edit Dividend' page, click the 'Reset' button.
3. Navigating back to the 'Income' tab, will show you it is ready to be confirmed once again.
Troubleshooting Inaccurate Dividend Payments
Inaccurate dividend records can occur if your trade history in Navexa is incomplete. Dividends are calculated based on trade history, so errors are likely if information is missing. Follow these steps to resolve this:
Check your trade records for completeness.
If any transactions are missing, manually import or input these entries into Navexa.
Post-update, Navexa recalculates dividends automatically, resolving inaccuracies.
