[GNC] [GNC-dev] Recording dividend payoffs

[Justin Mathew]

Maf,

> Forget that bit. must have still been waking up. it is 2 separate txns on 3
> accounts

Yes, 2 records on 3 accounts. and Dividend Declarations register will always be minus as stated in my prev email.

This is because Dividend Declarations only take money out of the business. There is no money coming in. That minus doesn't affect anything. And when the balance is generated this debit is balanced.



-
Regards,
Justin Mathew
mjustin at protonmail.com

Sent with ProtonMail Secure Email.

‐‐‐‐‐‐‐ Original Message ‐‐‐‐‐‐‐
On Wednesday, April 17, 2019 1:46 PM, Maf. King <maf at chilwell.net> wrote:

> On Wednesday, 17 April 2019 08:51:00 BST Maf. King wrote:
>
> > Said text goes on to explain that the act of declaring a dividend to be
> > payable creates a liability account on the company. When dividends are
> > paid, that liability account is cleared from equity:retained Earnings
> > (presumably company bank balance also reduces, but I haven't thought at
> > length about what the 4th balancing account would be in a GC txn).
>
> Forget that bit. must have still been waking up. it is 2 separate txns on 3
> accounts
>
> Maf.
>
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