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Dividends payable

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See Also

ACT | Expense analysis | FII and shadow ACT | Profit and loss account / Income statement (D schedule)


Select from the following headings:

Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors


Background

This schedule records the balance sheet movement of dividends payable at the beginning of the period, the charge to the profit and loss account as entered per the row Dividends, and the split between the various dividend categories paid pre and post the Shadow ACT provisions (5 April 1999).

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Developing the schedule

The schedule may be developed from either the D schedule directly or alternatively from an Expense analysis schedule. Only one Dividend payable schedule can be developed.

This is then stored as part of the 'C' or balance sheet set of schedules.

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Completing the schedule

The Ins key can be used to add further dividend types required, and a description should be provided. The schedule follows the usual Debit/(Credit) convention.

Accrual b/f

This is either completed automatically by the software where a new period is built, or may be entered manually by the user.

Charged to P/L

For each dividend, enter the amount charged to the accounts.

The system will check the total of dividends charged to the accounts with the Dividends row per the profit and loss account.

Paid before 5 April 1999/FID/Paid under group election

Depending upon the dividend category type, complete the necessary rows under each column heading.

The total amounts for each dividend category should support and agree with the net amounts entered on the ACT schedule.

Paid after 5 April 1999/Group dividends without SACT/Group dividends with SACT

Depending upon the dividend category type, complete the necessary rows under each column heading.

The total amounts for each dividend category should support and agree with the net amounts entered on the Shadow ACT schedule.

Accrual c/f

The software will derive this figure automatically based on the entries made on the schedule.

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Standard sub-schedules

This schedule has no standard sub-schedules.

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Carry forward

On carry forward, this schedule is automatically developed in the subsequent computation if it is present in the prior year computation.

 

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Related errors

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