Calculating and paying dividends

Calculating dividends cannot be automatically recorded in e-Financials; for this purpose, the necessary financial entries must be made through Accounting Entries module by adding the following entries:

Calculating dividends:

D 2960 Retained earnings (loss)

C 2650 Dividend payables

Calculating the income tax for dividends (if the dividends are paid immediately. If dividends are not immediately paid, it must first be entered as accrued payables):

D 2520 Personal income tax payable

C 2656 Dividend income tax payable


Paying dividends:

D 2650 Dividend payables

C Bank/Cash


Income tax is declared and paid by the 10th day of the next month via TSD and the following entries are made in the program:

D 2656 Dividend income tax payable

C 1020 Bank