Dividends often refers to cash payment that a company pays to its shareholders. It is normally paid quarterly, but may be paid at other times as well. When using TreeezSoft cloud accounting software, you will need to record this type of cash flow into your account as well.
In TreezSoft cloud accounting, you can easily record your dividend payment and keep your report up-to-date at all time. We uses series of automation and integration to enhance your accounting experience with TreezSoft.
Step 1: You will need to create an equity account in Charts of account. You then can easily create it by navigating through: Company > Chart of Accounts.
Step 2: Then, create an account "Dividend Payable to Mr. xxx" under "Account Payable" account type, navigate through: Company > Chart of Accounts.
Step 3: To create a journal entry, navigate through: General Ledger > Journal Entry. Click “New Journal Entry” button on the bottom right corner.
Enter the journal entries as below. Click “Save” button once you have done the journal entries.
Step 4: If the dividend has been paid out, create a cash payment, navigate through: Banking > Cash Payment. Click “New Cash Payment” button on the bottom right corner.
Enter the cash payment details. Click “Save” button once you have done the data entries.
You can read more on payment in TreezSoft by visiting these links:
TreezSoft is a cloud accounting software for Small and Medium-sized Enterprises (SMEs). It allows you to access your financial information anytime, anywhere. It also allows you to have unlimited users for FREE for your account in TreezSoft. Our aim is to help reduce our clients' time spent on accounting mainly by using our automated processes and integration to help increase their company effeciency at a minimum costs. SMEs can use TreezSoft to keep track their expenses, accounts, daily operation e.g. Point of Sales (namely QPOS) system and etc.
Visit TreezSoft at http://www.treezsoft.com/ to sign up for a 30 days trial account with us!
You can also email us at [email protected] for more enquiries.