Can anyone tell me how I should deal with Dividends in Sage line 50.
There seems to be no obvious nominal account for this.
I can create one but it will need to be in the correct place when I do a P&L report otherwise net profit will be wrong.
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Sage Line 50
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brucedenney
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- Joined: 28 Feb 2006, 09:56
- Sage Version: v28 UK/Europe/Africa
You will need to create a dividends expense code near code 8000.
Then create a dividends creditor code near code 2000.
You need to check you COA to make sure these are included.
Enter the proposed dividend as a journal, debit the 8xxx code and credit the 2xxx code with the same.
As and when you make the payments, just use bank payments to the 2xxx code.
Tax code T9 on all these transactions
Then create a dividends creditor code near code 2000.
You need to check you COA to make sure these are included.
Enter the proposed dividend as a journal, debit the 8xxx code and credit the 2xxx code with the same.
As and when you make the payments, just use bank payments to the 2xxx code.
Tax code T9 on all these transactions
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