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I have been using Agexpert Analyst for many years for my corporate Farm. I want to record a transaction to show a dividend that was paid to a shareholder. What is the recommended steps?
This is a "textbook" answer, you may want to check with your accountant to get an answer specific to your chart of accounts.
When the Dividends are declared by the directors (the Date of Declaration), an entry should be made on the books to Debit your Dividends equity account (for me that is 3040-00) and then to credit a Liability account called Dividends Payable which you will likely need to create.
On the Date of Payment, you would then do a withdrawal for the amount required from the bank and offset that entry against the Dividends Payable account you set up.
At the end of the year, your accountant will then clear out the Dividends equity account against retained earnings.
If recording the "Date of Declaration" and the "Date of Payment" are not important for your operation (check with your accountant first), then you can make this whole process simpler by simply recording one withdrawal, which is offset by an EQ line and your Dividends account. (See attached screenshot)