I want to make a dividend payment to one of the company shareholders. Where and how do I add this into the appropriate place or places in Quickbooks Pro. Please provide as much detail as possible as to what screen and any other details I need to know. I do not have an accounting background.
Although not required - I suggest you create an 'equity' type account for Dividends Issued.
To pay a dividend in cash just write a cheque coded to this account. To record a notional dividend not paid in cash make a Journal entry to DR Dividend Issued and CR DueToShareholder
At the beginning of the next fiscal year close the balance in the Dividend Issued account by journal entry: DR Retained Earnings - CR Dividends Issued.
Remember to do the Directors & Shareholders resolutions to authorize a dividend, and issue T5 slips in Feb next year.