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Anonymous
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Re: Great! So, there is already a Dividends Paid account set-...

 
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Re: Hello bojopr, You would create an equity account in your...

[quote]

Hello bojopr,

You would create an equity account in your Chart of Accounts called Dividends Paid. Every time you allocate the transaction you would choose this account. This would also be an Out of Scope tax item as th default tax setting.

Let me know if you need step by step instructions to set up the account.

[/quote]

 

 

can I have instructions?

Anonymous
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Re: Hello bojopr, You would create an equity account in your...

Hi bojopr,

 

Go to Accounting -> Chart of Accounts -> New (button).

  • Account type is Equity
  • Detail Type can be either Partner Distributions or Owner's Draw.
  • Name can be changed to what you'd like it to be, example: Dividends.
  • Default Tax Code: Out of Scope
  • Save

I hope this helps!