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Adding a dividend payment in SlickPie

For adding any dividend payment, we recommend you checking with your accountant first.

 

To add a dividend payment, first create 2 Chart of Accounts.

 

1. Dividend Payable as Current Liability

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2. Dividend Paid as Equity

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Example: A company declares $1.00 Dividend per share for 20,000 shares payable.

 

  1. When the company declares the dividend, create a Manual Journal Voucher.

Dividend Paid Debit $20,000.00
       To Dividend Payable Account Credit $20,000.00

 

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Please note Dividend Paid will appear under Equity in negative and Dividend Payable will appear under Current Liabilities in Balance Sheet.

 

 

  1. When Dividend is paid, create another Journal Voucher.

Dividend Payable Account Debit $20,000.00
       To Bank Account Credit $20,000.00

 

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Please note

After payment of the dividend, Dividend Payable account will zero out.

You can also create Record Expense for dividend payment by selecting COA Dividend Payable.

 

 

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