Hi, I took a dividend payment of £10000.00 for the period 01 Jun 2012 to 31 May 2013. I did a transfer from the company account to mine on the 18/03/14.
I have recorded a general transaction from the business current account to 'retained earnings' account as mentioned on the forum.
Do I need to record the payment to say 'Directors Dividends Paid' under the 'overheads account'
Hi KP,
In case you haven't seen it already here is our help topic on dividends:
http://www.solaraccounts.co.uk/help/how-to-record-a-dividend-payment.php
I'm not sure what you mean by 'overheads account'. Are you saying that the dividend payment for tax purposes was made on 31 May 2013 but you didn't actually withdraw the funds until 18 March 2014?
Regards,
