Help

Record a Dividend Payment

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on June 01, 2011 by Gidon@AccountsPortal

Broadly speaking, you can take dividends whenever you like and for as much as you like, but you must ensure that the total of all dividends in a year do not exceed the company’s accumulated profits (after corporation tax). The treatment in AccountsPortal depends on when you make the payment

 

1. Payment Date same as Dividend Date

Use the Spend Money (type 'General Payment') transaction to reflect the dividend paid out. Assign the line item of the transaction to the 'Retained Income' account and clearly mark it as a dividend payment in one of the transaction text fields.

 

2. Payment Date later than Dividend Date

a. Enter a Journal transaction to reflect the dividend declared and payable. The first line item should be a Debit amount assigned to the 'Retained Earnings' account. The second line item should be a Credit amount assigned to the 'Dividend Payable' account.

b. Use the Spend Money (type 'General Payment') transaction to reflect the subsequent payment. Assign the line item of the transaction to the 'Dividend Payable' account.

 

If you would like to have your Dividends report separately to your 'Retained Earnings', then use the 'Dividends Paid' account instead of the 'Retained Earnings' account in the steps above.

 

Track Departmental or Job-specific values by using Categories (Cost Centres)

Add New Comment Published in 
on October 21, 2010 by Gidon@AccountsPortal

Categories can now be created to represent divisions, departments, people or any other classification required for reporting purposes. Categories can be specified in the line item of any transaction and the results analysed in the Profit and Loss or Transaction Line Items report.

P&L by Category

For more information, refer to the help documentation on Categories.

Updating Your Payment Card Details

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on May 31, 2010 by Gidon@AccountsPortal

You can update your payment card details at any time. This may be necessary if you transfer to another bank or if your existing card is replaced by a new one. To avoid any interruption to your AccountsPortal online accounting subscription, update your payment card details by navigating to the Settings tab, followed by My Subscriptions. Click on the Update Card Details link and amend your details as required.

Note that for security reasons, only the user that originally entered the card details will be permitted to make the update.

Click here to view the full help documentation for this process.

Manage Out-of-pocket Expenses

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on April 27, 2010 by Gidon@AccountsPortal

Out-of-pocket expenses are business costs that have been paid out of your personal bank account or cash. At a later date, the business reimburses you for the full out-of-pocket amount.

Using online bookkeeping and accounting means you and your staff can submit these expenses from just about anywhere. You no longer have to wait until you return to the office.

Managing out-of-pocket expenses consists of just four easy steps:

  1. Create a Supplier account for the relevant staff member (only required once per staff member).
  2. Create a Purchase Invoice for each invoice you pay or receipt you collect.
  3. Pay yourself or your staff from the business bank account, or petty cash, to reimburse the total out-of-pocket expenses incurred.
  4. Enter the Payment and allocate it against the staff Supplier account.

Remember though, maintaining online accounts does not mean you can ignore good basic accounting practises. Hang onto your physical invoices/receipts and file them methodically for future reference.

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