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title: "Share Distribution System"
canonical: "https://kb.myframeworks.com.au/space/PROSTIXV48DOC/31100081/Share%20Distribution%20System"
format: markdown
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This topic was introduced in Version 4.7. Purpose of the change We have modified ProStix to meet a requirement to distribute dividends on shares as either cheques or bonus shares.  A rebate can also be distributed as a percentage of sales by product group. GST is generated on the rebate raised; recorded & held separately.  There is the ability to apply this GST amount to either shareholding or a cheque run as determined by the board on a yearly basis.  All benefits in the form of rebates and dividends (less withholding tax) is applied as shares. A report has been created to show sales for the year by product group by branch to satisfy the requirement of at least 90% of total yearly sales being to shareholders.  The report also lists sales to shareholders separate from sales to non-shareholders and calculates the percentage of total sales to shareholders. Details of the change The existing Shareholder Register within ProStix has been modified as follows: Allow the inclusion of: .The current shareholder distribution is changed to prompt for the following if 'dividends' is the selected distribution method: A new function has been created to calculate benefits distributed as rebates.  This allows the user to select the rebate per product group to apply to each customer, based on the value of goods purchased from those product groups (including cash sales against the customer).  Pre-paid purchases are also to be included.  This amount is distributed as bonus shares. GST is generated on the rebate raised, recorded & held separately.  There is the ability to apply this GST amount to either shareholding or a cheque run as determined by the board on a yearly basis.  Also can print a GST adjustment note for the Rebates + GST and have this shown on the annual dividend statement along with the dividends raised for the year. There is a report to show sales for the year by product group by branch.  The report lists sales to shareholders separate from sales to non-shareholders and calculates the percentage of total sales to shareholders. Statements are printed showing rebates, dividends, GST credit details, previous year purchases, previous year redeemed.  The statement has a return page attached for the shareholder to advise what they wish to do with their dividend. A soft copy report is generated for ATO purposes as per the ATO specifications within the Magnetic Media Specification - Annual Investment Income Reports V9.0 March 2006. Shareholding Group This is a new concept and is a shareholder along with one or more individuals (children) attached to the shareholder account.   Shareholders and/or shareholder individuals belong to a single shareholding.  This is required for ATO taxation purposes as the Tax File Number (TFN) or an ABN is recorded at individual level for certain types of share registry codes. Business Process Flow 1.  Set up a share program. 2.  Shareholders apply for a shareholding. 3.  At the end of the financial year, shareholders may receive a dividend, issued in the form of shares. 4.  The ATO requires a report of shareholders - their dividends and withholding tax. 5.  At the end of the financial year a report of all sales by product group to shareholders and non shareholders is required. 6.  At the end of the financial year shareholders may receive a rebate (issued in the form of shares to the equivalent value).  7.  GST refunds are calculated as shares as defined by a GST level.  Amounts not paid out are transacted as Share Purchases as at the first day of the financial year, for example: 01-07-2011. 8.  Shareholdings are maintained below a defined level. 9.  Shareholders require a statement of benefits. 10. Shareholders may purchase or redeem shares. Benefits to the user Automates the distribution of shares. Setup Support Call:    22813