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IdunnSofie
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How to record dividends vs salary in banking?

Hello,

 

Over the tax year I've transferred money from my business account to my personal account as and when I've been paid by various clients.

 

At the same time, I've been running a payroll, paying myself the tax-free allowance in equal instalments.

 

Now I want my bank feed to reflect the salary payments to my personal account, and the rest as dividends, however I'm not really sure how to go about this? Do I create different accounts?

 

My old accountant set up a couple of things for me on QuickBooks, and I think they made a 'Sole Trader Current Account' (I was a sole trader until May 2019, now Limited), which I've been adding the transactions to, however I think I should maybe edit these?

 

Thanks so much in advance for any clarity provided!

Idunn

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