[GNC] Recording dividend payoffs

[David Cousens]

Justin,

If you make the Dividends Declared account a child account of Retained
Earnings ,i.e a contra account in accounting terms, any dividend amounts
will be automatically deducted from Retained Earnings as suggested on the
following site.
https://www.accountingcoach.com/blog/recording-dividend-payment. They also
describe an alternative approach using an Expense: Divdends Declared to
record the declaration and this is closed to Retained Earnings at EoY
achieving the result you were after.

David Cousens



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David Cousens
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