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Post Info TOPIC: Dividends / chart of accounts
Michaela


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Dividends / chart of accounts
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I have decided to change default chart of accounts on Sage, the new chart of accounts works well, however there is one nominal code that we use and is not included in it and that is dividends.  When I print P&L report it says Report (partial).  However, as far as I understand dividends are taken from profits and they don't feature in the overheads.  It looks like I have to put dividends somewhere when I am creating new chart of accouts, but not sure where...

Any ideas?

 



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Micha
MarkS


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Depends what version of SAGE you are using.

I think the latest version has a bit on the chart of accounts to put dividends.

If not then would put in the P&L under taxation just to keep it separate from the normal overhead accounts.

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.
Michaela


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Thank you for your quick response, Im using Sage50 latest version 2012 and I will have a look at the taxation bit.

Thank you Marks

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Micha
Michaela


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Hi Marks

Thank you very much, I have put dividends under taxation and it works ok thank you.

Michaela

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Micha
GJRobbins


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Or put it in the reserves section to make it clear that there is enough built up profits to satisfy dividend.... From a reporting point of view I feel it is more appropriate placed here. Jeremy

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