Hello,
Any help will be greatfull.
How to post dividends on SAGE(P&L & Balance Sheet) based on following example:
Company year end: 31/12/2019
Net Profit (for distribution) : £1000.00
Director (is a shareholder as well) decided to pay £1000.00 as dividents on 01/07/2020.
Thank you.
Related resources
Replies (9)
Please login or register to join the discussion.
If I recall, from some years back, Sage doesn't really recognise dividends as a special 'thing' and roll them up out of retained earnings etc.
If the year is still open, then I would Debit P&L and Credit Bank using a bank payment -
If the year is not open, then you would Debit reserves (ie 3200) and credit bank.
If you post to another balance sheet code, your accountant will only need to manually journal that to reserves anyway.
Your accountant will deal with the FRS presentation.
The thing is that in SageOne Cloud, the profit /loss , hasn't a nominal code.
Is just "Profit/Loss for prior year(s) or Profit / Loss current year".
The thing is that in SageOne Cloud, the profit /loss , hasn't a nominal code.
Is just "Profit/Loss for prior year(s) or Profit / Loss current year".
take it up with Sage.
let them know that dividends are soooooo common that a fit for purpose solution is the least a user should expect.
https://ask.sage.co.uk/scripts/ask.cfg/php.exe/enduser/std_adp.php?p_faq...
May help
https://ask.sage.co.uk/scripts/ask.cfg/php.exe/enduser/std_adp.php?
p_faqid=11448
I think if dividend paid July it is ye 2020 issue only.
Nothing to do with ye 2019 at all.