How to make dividend payments?

Olena Vyshniak

Hi,

Having started usingWaveapp service, we ran into some accounting issues - we cannot account dividend payments. We understand that waveapps serves thousands of client accounts and supposed to have basic to every business functionality ÛÒ to account dividend payouts.

Maybe someone knows how to makedividend payments?

Thanks!

Bella Hinton

you can add an account for dividend payments as a first step

once that's done, because you're recording a payout you can create a transactions expense and select the account you just created for the category of that transactions. I think you owuld want the account you created to be an equity account

Agnes Gilland

Under the accounting tab, you can create journal transactions. For a dividend payment, (you can first create an account for this) add a journal and credit your bank account, debit the account you created for dividend payments.

hendy

My question would be, is this "dividend payment" account categorized under "Equity - Business Owner Contribution" or "Equity -Retained Earnings: Profit and Business Owner Drawing"?

Mohamed Imran Buhary Seyed Mohamed

It would be under "Equity -Retained Earnings: Profit and Business Owner Drawing"