How to handle an ADR management fee , Foreign transaction tax, Foreign Financial Transaction Fee

While most clubs who have invested in foreign stocks in the past will be familiar with a fee or tax being applied to each dividend, the club may not be familair with seeing a charge that is unconnected to any dividend.

Depending on the broker, the charge might show up as may show up an ADR management fee , Foreign transaction tax, Foreign Financial Transaction Fee, or similar name.

Regardless of the name, the transaction can be entered simply as an expense in our accounting system.

* In CA3, go to TRANSACTIONS > EXPENSE.

* In CAO, go to ACCOUNTING > CASH ACCOUNT> EXPENSES


If you find that you do need to enter a foreign tax transaction, we have steps available:

Steps for Desktop Club Accounting 3:
https://www.iclub.com/faq/index.php?solution_id=1352

Steps for online accounting at myICLUB.com:
https://www.iclub.com/faq/index.php?solution_id=1092