New Dividend Calculator

Hi Phill, I'll jump in here, no the dividend tool now defaults to creating a code for each shareholder under "Dividend creditors" called "shareholder name dividends". Then when you pay it you pick this code.

This is the same methodology that you can toggle on for Expenses (Ad hoc) and the VAT liability.

The main point behind forcing this method with dividends is that debts owed to shareholders are not "Trade Creditors" for year end accounts.

When the shareholder is a director, what a lot of people do is to "pay it off" using the Director's loan account, thus moving the debt into that account.

Hi Phill

The link below takes you to the guide which gives you step by step instructions to make the dividend payment after it has been created.

https://www.clearbooks.co.uk/support/guides/dividends/how-to-make-a-dividend-payment/

Hope this helps.

Best regards

Latha

Actually another quick one. Previously any dividends would get added into the purchases list ready for payment automatically. Is this not the case anymore?

Ah cool nice one Phill - if you have any other queries or problems just let me know.

I've done some more reading and did a tentative test and discovered that. All sorted now, thanks John.

Hi Phill,

Are there any Directors on the account at the moment? The shareholder doesn't necessarily have to be a director, but a director of the company does need to be added.