Question asked by Jeffrey Croft 8 years ago
Hi. I am new to CB and wanted to know how to explain a dividend when importing a bank statement. The dividend is transferred across to my personal account so do I have to complete the transfer tab and have my personal account set up within CB? Jeff
Hi Jeff,
When setting up dividends you will need to create a shareholder - this should generate the Joe Bloggs dividends account.
For expenses, it might be best to create a directors loan account on the Money>Bank accounts menu (just add a new bank account and choose DLA as the account type). You can use this to pay bills
and then transfer money from your business account to your DLA as repayment.
Best answerHi Jeffery,
First, if you haven't done so already, it's best to create the dividend on the Tools>Dividends menu:
https://www.clearbooks.co.uk/support/guides/dividends/new-navigation-how-to-create-dividends/
Once that is done you can explain the payment on the imported statement using method 2 below:
https://www.clearbooks.co.uk/support/guides/dividends/new-navigation-make-dividend-payment/
Thank you for the reply so using the example I would need to set up the destination Account i.e. Joe Bloggs dividends. Similarly expenses that are paid back to me from the company account?
Thanks Jeff
Hi Jeff,
When setting up dividends you will need to create a shareholder - this should generate the Joe Bloggs dividends account.
For expenses, it might be best to create a directors loan account on the Money>Bank accounts menu (just add a new bank account and choose DLA as the account type). You can use this to pay bills
and then transfer money from your business account to your DLA as repayment.
Best answerThanks again John, as I am flat rate VAT should I set VAT Rate as 'Exclude from VAT Return' for an import item that is for paid services?
You must 