How do I enter dividend?

How do I enter dividend?

For dividend processing we do the following.
set aside the value into a dividend account.
next a approved amount will be taken from the dividend account and moved to a dividend payable account.
finally payment is made against this dividend payable account.

Each company may have different steps in processing this.
the follow is a example of our method.

Step 1.
After processing the Year end closing  the company will decide a value to be set aside for dividend.
during the allocation phase, value is removed from retained earnings to be set aside in the dividend account.






Step 2.
the company will next decide how much to payout this period.
this value is taken from the dividend account and moved to the dividend payable account.






Step 3.
Payment to the shareholders.
payment is done against the dividend payable account.


    • Related Articles

    • How to Enter UnPresented Cheques into Openings?

      Scenario How to enter UnPresented Cheques into Openings?Solution You can do it by creating a Opening GL entry from the Adjustment menu. Steps 1 To key in your Unpresented Chques from the last financial year into the physical year. For doing this ...

    • Prompted to enter in serial number/password

      You may get prompted to enter in serial number or password when you change to a new PC or after some windows updates. some windows updates change the system's product information or clear the location the registration is stored. the window will look ...

    • How do I enter a discounted sale price scheme entry

      For this example please reference IRAS example. https://www.iras.gov.sg/taxes/goods-services-tax-(gst)/general-gst-schemes/discounted-sale-price-scheme You sold a motor vehicle at $25,000 (excluding GST) on 5 Jan 2023. GST chargeable = $25,000 x 50% ...

    • 6.0. Sales Credit Note

      Credit Note Issue a Credit Note STEPS: Click SALES activity Click CREDIT NOTE module Click NEW CUSTOMER select EveryDay Customer Pte Ltd Enter your S/N (if any) Select your Item DESCRIPTION amend to Discount on Delivery Service You may amend the ...

    • 1.0. Supplier Invoice

      Supplier Invoice STEPS: Click PURCHASES Click SUPPLIER INVOICE Click NEW VENDOR select Interesting Supplier Pte Ltd Enter the supplier’s invoice details REFERENCE enter INV.12345 S/N. enter 1 ITEM select SVC002 QTY enter 5 Click ADD