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General Discussion How to enter Debit: Retained Earnings

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How to enter Debit: Retained Earnings

Posted By SylvieSu over 10 years ago

I would like to enter Dt: Retained Earnings, Ct: Dividend payable

But in GL, SImply Accounting does not allow me to choose Retained Earnings. How to enter that?

Thank you

Sylvie

0 Jenn5353 over 10 years ago

You want to debit some other account, like Shareholder's Account, not Retained Earnings.
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0 SylvieSu over 10 years ago in reply to Jenn5353

For issue dividend, is that the entry like:

1st step, Dt: Retained Earnings, Ct: Dividend payable

2nd step, Dt: Dividend paybale Ct: Bank

So for the fist step, how to enter?
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Sage 50 Canada

How to enter Debit: Retained Earnings

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