The video provides the following guide to using the Share Register & Franking Account -

  • Creating a class of shares and authorised share capital with a face value on each share
  • Issuing shares from the authorised capital to the members
  • Transferring shares to another member
  • Disposing of shares (capital reduction
  • Understanding how adding members in the share register updates the relationships module
  • Setting up the franking account
  • Adding a balance to the franking account
  • Adding a transaction in the franking account
  • Paying franked and unfranked dividends
  • Understanding how notating the company as SBE changes the rate of franking to equate to either 30% tax rate or 27.5% tax rate


- In the Financial Information Section, franking account must be positive or zero. Not negative.

- Dividend franking credits are not usually reflected in accounting income so I think it's reasonable to expect a difference between tax and accounting income.

- If a new company, there will be no franking account balance until tax is paid.

- Ensure that you have followed the instructions for importing the tax account into the Income Tax Validator from the ATO Portal web page.

- Make sure the date range covers the tax paid.

- Tax instalments can be imported from the Integrated Account while the balance of tax can be imported from the Income Tax Account.

- Be sure to select the right type of transaction to import to your Franking Account.

Manual Transactions can be added to the Franking Account where necessary