Dividend Payments

I have downloaded your solar account package and and so far very impressed by it.

Could you please tell me how I should record a divided payment for a Limited company?

Regards

Ian Macfarlane

Posted by Ian Macfarlane on Oct 13, 2008 10:35 PM BST

Hello Ian,

Thanks for your interest in Solar Accounts. The simplest way to record a dividend payment is to credit your Cheque Account and debit Retained Earnings. To do this, click menu File > New > General Transaction. For the Journal Memo enter 'Dividend Payment'. For the From Account enter 'Cheque Account' (depending on payment method). For the To Account enter 'Retained Earnings'.

Note: Your accountant or bookkeeper may prefer a different treatment - I recommend you check with him/her.

Posted by Mark McLaren (Solar Accounts) on Oct 14, 2008 10:09 AM BST