EasyFarm Tutorial: Dividends
When you first set up the dividend accounts, make sure that the proper accounts are set up and ready to use by looking in your manual. If they are not set up, you will want to add those dividend accounts before proceeding.
Now, to enter dividends, follow these steps.
Let’s say we want to receive dividends from the Cenex Co-op in the amount of $125, where $50 was cash and $75 was retired from a previous year.
The account we will use is 4602 and the total dividends received balance is $500. Click on save and notice the amount remaining is negative $375.00.
Now, we click add and add the Dividends retired amount, and then click add again and in the Dividends Acquired account leave the default at $450.
Click save and then save again to save the transaction.
Next, click on the Asset tab.
First, we will add to our assets the quantity and value of new dividends acquired.
Click on add, and adjust the quantity up or down.
Here, we will decrease the retired dividends and increase the asset value of the new dividends.
Click on save.
Next, we will look at prepaid expenses.
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