[GNC-dev] [GNC] Recording dividend payoffs
satphil at gmail.com
Tue Apr 16 19:59:16 EDT 2019
I agree with Justin. Other than "this is how it works" or "here's a
I don't believe I've seen an argument challenging his proposal. Can I
encourage you to consider this approach for a future release?
Am I correct in thinking that the other category that drains retained
is capital expenditure?
> Dividends are a decrease in equity and can't be recorded in an 'Expense'
> type account (although that's the current workaround and technically
> wrong). Therefore what I suggest is to create a dividend account type
> equity (equity currently has only 1 type of account) which can be used to
> record dividend declarations. The value of this account can then be
> adjusted from total income. This will give us the real 'Retained
> Note that: The corresponding journal entry for recording in dividend
> declaration account is 'dividend payable' (which is a liability account
> created by user). To record a dividend paid, a second record is created in
> 'dividend payable' against the journal 'current account' or 'cash
> Justin Mathew
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