How to enter dividends paid

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Vanessa_10085275
Vanessa_10085275 Member Posts: 39 Reckoner Reckoner
in Accounts Hosted

How do I enter dividends paid into Accounts Hosted? Do I need to set up any new accounts?

Any help would be appreciated. Thank you

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  • Kris_Williams
    Kris_Williams Member Posts: 4,009 Reckon Hall of Famer Reckon Hall of Famer

    I would just use income accounts called Dividends Franked and Dividends unfranked and post the franked credit negative amount to your income tax account or a new account called Franked credits. I prefer to make a new account for the latter for clarification for accountant

  • Zappy
    Zappy Accredited Partner Posts: 5,316 Accredited Partner Accredited Partner

    You need to get the accounting right. Do you know the difference between a liability and income?

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