Dividends
The dividends section facilitates the efficient management and distribution of profits to shareholders. It allows users to import shareholder data from Companies House or manually input new shareholder information, ensuring accurate and up-to-date records. Through a structured workflow, users can create dividend vouchers, automatically calculate dividend amounts, and generate corresponding journal entries, streamlining the overall process of dividend declaration and accounting.
Adding a shareholder
Shareholders on Companies House can be viewed and added, or can be altogether manually added within the system. To begin, navigate to the 'Dividends' section and select the 'Shareholders' tab. Click on 'Fetch share capital' to retrieve share capital information from Companies House.
To manually add a new shareholder, click the '+ Shareholder' button. Enter the required details in the provided fields, including the shareholder type, name, contact information (address, email, and phone number), and the number of shares held, along with any other relevant information. If additional shares need to be allocated to the shareholder, use the '+ Share' option to input those details.
Once the information is complete, click 'Save' to add the shareholder to the system. After a shareholder is added, options to edit or delete the record are available.
The status filters allow users to view shareholders based on their current status either as 'Active' or 'Deleted' and the search bar enables users to locate a specific shareholder within the list.
Once shareholders have been added, you may proceed to create a dividend voucher. Navigate to the dividends tab and click '+ Dividend' to initiate the process.
Adding dividend
A unique reference number will be automatically generated. Select the relevant shareholder from the dropdown list, and the associated details will be auto-filled from the shareholder record. Enter the dividend per share, and the total dividend amount will be calculated based on the inputs. The profit available for distribution is also displayed on the top right corner. Shareholders can also be added from this section by clicking on the add shareholder button.
This entry can be automatically generated and can be immediately posted to the system by selecting the 'Save & Post' button. If the user chooses not to recognise the dividend at that moment, they may select 'Save' to handle the journal entry at a more suitable time. In order to post the journal later, you can select the dividend vouchers by clicking on the checkbox just next to reference numbers and then clicking on the post journal button. The journal could be viewed by clicking on the status. Once the journal is posted, it could be rolled back as well.
Once created, the dividend voucher may be edited, downloaded, deleted and revived from the deleted filter, as required.
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