Re: Dividends should be charged to Retained Earnings (part of...
I have just spent 3 hours with QB support and they do not seem to understand this concept. Paying dividends is a basic company action. Why does a company who creates an accounting package for businesses NOT understand this and create an action for it. It really does beggar belief.
The user above asked for step by step instructions. All they got as a response was "pay it out of retained earnings" but no one can explain how.
So the question is, how do you pay it out of retained earnings and please don't say "write a cheque" if that is the answer please explain who you write the cheque to in order to pay the money out without it looking like a purchase on your P&O .