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Post Info TOPIC: Dividends & year end
Saltire


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Dividends & year end
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Hi,

Just a couple of questions!

I have recently started with one of my first clients & its year end!

I have been asked to post a dividend to the DLA  I have entered on sage as debit dividends & credit DLA is this correct should it be showing in the P&L before net profit?

Also should I run year end in Sage or wait until the accountants have provided adjustments?

Apologies for the possibly daft questions I just don't want to make mistakes!

Thanks in advance.



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MarkS


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Hi Pamela

Yes the journal for SAGE is correct.  Technically the dividend should be shown as an approrpriation after tax but as SAGE cant show this then it is fine to show it in the profit and loss account before net profit.  Would show it separately so it is clear what it is.

Yes go ahead and do the year end in SAGE if you want.  If there is any adjustments then the accountant will be able to take you through what you need to do or better still get them to come out and process onto your system.

Regards

MarkS



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
Saltire


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Thanks Mark.

Glad I was on the right track!



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