Hi Briane,
Having had time at home to think about your dividend query I have come up with the solution! (courtesy of Sage!) I had a feeling that the code 7003 was not right but that is how the client's Sage was setup (not by me!). Hope this helps! Marilyn
To record the proposed dividend
Note: In this example a proposed dividend of £5000 is to be recorded.
- Open the Company module, then from the Tasks pane select New Journal.
Sage Accounts v11.xx and below - Open the Nominal Ledger module then click Journals.
The Nominal Ledger Journals window appears.
- Enter a date and reference for the transaction, then enter the relevant details to record the proposed dividend, for example:
N/C
|
Name
|
Details
|
T/C
|
Debit
|
Credit
|
3201
|
Dividends
|
Proposed Dividend
|
T9
|
5000.00
|
|
2290
|
Dividend Liability
|
Proposed Dividend
|
T9
|
|
5000.00
|
- To post the journal, click Save.
Tip: If required, to exit without saving, click Discard then click Close.
The journal is posted and the Nominal Ledger Journals window clears.
- To close the Nominal Ledger Journals window and return to the Nominal Ledger window, click Close.
You have now recorded the amount of dividend to be paid. For further information about paying the dividend please refer to the following section.
To pay the dividend
Note: In this example, you are paying a dividend of £5000.
- Open the Bank module then, from the Bank toolbar, click Payment.
The Bank Payments window appears.
- Enter the details for the bank payment in the boxes provided, for example:
Bank
|
Date
|
N/C
|
Details
|
Net
|
T/C
|
Tax
|
1200
|
Payment date
|
2290
|
Payment of dividend
|
5000.00
|
T9
|
0.00
|
- To save the payment, click Save.
Tip: If required, to exit without saving, click Discard then click Close.
The bank payment is posted and the Bank Payments window clears.
- To close the Bank Payments window and return to the Bank Accounts window click Close.
The Bank Accounts window appears.
You have now successfully recorded the payment of the dividend. After posting this bank payment, the balance on the Dividend Liability nominal code should be zero.
To journal the value from the Dividend nominal code to the Profit and Loss nominal code
- Open the Company module, then from the Tasks pane select New Journal.
Sage Accounts v11.xx and below - Open the Nominal Ledger module then click Journals.
The Nominal Ledger Journals window appears.
- Enter a date and reference, then enter the relevant information to record the transfer of the dividend liability, for example:
N/C
|
Name
|
Details
|
T/C
|
Debit
|
Credit
|
3200
|
Profit and Loss Account
|
Dividends
|
T9
|
5000.00
|
|
3201
|
Dividends
|
Dividends
|
T9
|
|
5000.00
|
- To post the journal, click Save.
Tip: If required, to exit without saving, click Discard then click Close.
The journal is posted and the Nominal Ledger Journals window clears.
- To close the Nominal Ledger Journals window and return to the Nominal Ledger window, click Close.
You have now successfully recorded the transfer from the Dividend nominal code to the Profit and Loss Account nominal code.
|