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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
  2. Dividend Paid as Equity

 

Example: A company declares $1 Dividend per share for 20,000 shares payable

  1. When company declares the dividend

Create a Manual Journal Voucher

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

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 a Manual Journal Voucher

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

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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