Difference between revisions of "How do I deal with dividends in Platinum Payroll?"

From Catalyst
Jump to: navigation, search
(Created page with "{{Incomplete}} == Summary == This article will explain how to deal with dividends in {{PR}}. == More Information == Dividends are a payment made by a corporation to its sharehol...")
 
(Bulk update)
 
(28 intermediate revisions by 5 users not shown)
Line 1: Line 1:
−
{{Incomplete}}
 
 
== Summary ==
 
== Summary ==
 
This article will explain how to deal with dividends in {{PR}}.
 
This article will explain how to deal with dividends in {{PR}}.
  
 
== More Information ==
 
== More Information ==
−
Dividends are a payment made by a corporation to its shareholders, usually as a distribution of "after tax" profits, and as such will be present on the company's Balance Sheet.{{Information|iconsize=small|text=There are normally two stages to the paying of dividends, which is the declaration of payment to dividends and the actual payment. In most cases these are done at the same time and this is how it will be dealt with in Platinum.}}
+
Dividends may be paid along with a shareholder's wages as one payment for convenience.
 +
In order to deal with dividends in {{PR}}, you will need either to create a new [[How do I set up payroll adjustments?|Payroll Adjustment]] for dividends, ''(details can be found [[How do I set up payroll adjustments?|here]])'' or you can use a post tax adjustment.
  
−
In order to deal with dividends in {{PR}}, you will need to either, create a new [[How do I Set Up Payroll Adjustments?|Payroll Adjustment]] for dividends, ''(details can be found [[How do I Set Up Payroll Adjustments?|here]])'' or you can use a post tax adjustment.
+
If you decided to create a new payroll adjustment for dividends you will need to follow the instructions on the link above and set the adjustment to be a {{DataValue|Positive Adjustment}}, which will not affect {{DataValue|Tax}} and will not affect {{DataValue|N.I.}}.
  
−
If you decided to create a new payroll adjustment for dividends you will need to follow the instructions on the link above and set the adjustment to be a {{DataValue|Positive Adjustment}}, will not effect {{DataValue|tax}} and will not effect {{DataValue|N.I.}}.
+
=== Set Dividend Amount ===
 +
If the dividends being paid each period are a fixed amount, you will need to go to:
 +
{{PayrollMaintenance|Add or Edit Employees}}.
 +
* On {{DataPrompt|Employee:}} enter the employee {{DataValue|number/code}} and press {{KeyPress|ENTER}}.
 +
* Press {{KeyPress|PG-DOWN}} until you get to the Adjustments page which should be page {{DataValue|6}}.
 +
* Against the {{DataPrompt|Dividends}} Adjustment created previously enter the {{DataValue|Nett amount}} of the payment under the {{DataPrompt|Adjustment}} column.
 +
* Press {{KeyPress|ESC}} and click {{Button|Accept}} to save the changes. Now each time you [[How do I run a payroll period?|run a Payroll Period]] for this employee, the amount will appear automatically under {{DataPrompt|Dividends}}.
  
−
If the amount of dividends being paid each period is the same amount you will need to got to:
+
=== Varied Dividend Amount ===
−
{{Menu|Payroll|Payroll Parameters/Maintenance|Employee Amendments}}
+
If the dividends being paid each period vary, you will need to go to:
−
* On {{DataPrompt|Employee :}} enter the employee {{DataValue|number/code}} and press {{KeyPress|Enter}}.
+
{{Menu|{{PR}}|Run Payroll Period}}.
−
* Press {{KeyPress|Page Down}} until you get to {{Title|Adjustments}} page which should be page {{DataValue|6}}.
+
* Select the {{DataPrompt|Pay Periods}} and click {{Button|OK}}.
−
* Against the "Dividends" Adjustment created previously enter the {{DataValue|Nett amount}} under the {{DataPrompt|Adjustment}} column.
+
* For the relevant employee in the {{DataPrompt|Dividends}} column, enter the nett amount of the dividend.
−
* Press {{KeyPress|Esc}} and click {{Button|Accept}} to save the changes. Now each time you [[How do I Run a Payroll Period?|run a payroll period]] that this employee is in the amount will be automatically entered under "Dividends".
 
  
−
If the amount of dividends being paid each period varies you will need to [[How do I Run a Payroll Period?|run the payroll period]] as per normal and against the "Dividends" column enter the amount being paid as a '''Nett''' amount and [[How do I Close a Payroll Period?|close]] the period as normal.
+
In both instances, you will then need to [[How do I close a payroll period?|close]] the period as normal.
  
−
{{Note|title=Important|text= The payments of dividends should not be included in the [[How do I Post the Wages Journal?|wages journal]] and if it has previously been entered to the wages control account it should be journaled out and into the [[How do I Deal with Dividends in Accounts?|dividends centre]].}}
+
{{Note|text=The dividends could be included in the [[How do I post the wages journal?|wages journal]] but if it has previously been entered to the wages control account, it should be journalled out and into the [[How do I deal with dividends in accounts?|dividends centre]].}}
  
 +
== See also ==
 +
* [[How do I post the wages journal?]]
 +
* [[How do I deal with dividends in accounts?]]
 +
* [[How do I set up payroll adjustments?]]
 +
* [[How do I run a payroll period?]]
 +
* [[How do I close a payroll period?]]
 +
* [[How do I set up payroll attachments?]]
  
−
== See Also ==
+
{{KB_Tags|deal, dividend, dividends, payroll, adjustment, adjustments, parameters}}
−
* [[How do I Post the Wages Journal?]]
+
{{How}}{{KB_PR}}{{ZN_Admin}}
−
* [[How do I Deal with Dividends in Accounts?]]
 
−
* [[How do I Set Up Payroll Adjustments?]]
 
−
* [[Getting Started - Payroll]]
 
−
* [[How do I Run a Payroll Period?]]
 
−
* [[How do I Close a Payroll Period?]]
 
−
* [[How do I Set up Payroll Attachments?]]
 
−
 
 
−
{{KB_Tags|Period, adjustments, payroll, Parameters}}
 
−
{{KB_PR}} {{ZN_Admin}}
 

Latest revision as of 06:29, 9 November 2019

Summary

This article will explain how to deal with dividends in Payroll.

More Information

Dividends may be paid along with a shareholder's wages as one payment for convenience. In order to deal with dividends in Payroll, you will need either to create a new Payroll Adjustment for dividends, (details can be found here) or you can use a post tax adjustment.

If you decided to create a new payroll adjustment for dividends you will need to follow the instructions on the link above and set the adjustment to be a 'Positive Adjustment', which will not affect 'Tax' and will not affect 'N.I.'.

Set Dividend Amount

If the dividends being paid each period are a fixed amount, you will need to go to: " Payroll Maintenance Options Add or Edit Employees".

  • On "Employee:" enter the employee 'number/code' and press <Enter>.
  • Press <Page-Down> until you get to the Adjustments page which should be page '6'.
  • Against the "Dividends" Adjustment created previously enter the 'Nett amount' of the payment under the "Adjustment" column.
  • Press <Esc> and click [Accept] to save the changes. Now each time you run a Payroll Period for this employee, the amount will appear automatically under "Dividends".

Varied Dividend Amount

If the dividends being paid each period vary, you will need to go to: " Payroll Run Payroll Period".

  • Select the "Pay Periods" and click [OK].
  • For the relevant employee in the "Dividends" column, enter the nett amount of the dividend.

In both instances, you will then need to close the period as normal.

The dividends could be included in the wages journal but if it has previously been entered to the wages control account, it should be journalled out and into the dividends centre.

See also


Feedback
Thank you for using our Knowledge Base, we value your feedback. Did you find this article useful? 'Yes' or 'No'
Keywords AND Misspellings
deal, dividend, dividends, payroll, adjustment, adjustments, parameters
Retrieved from "https://www.catalyst-uk-support.com/kb/index.php?title=How_do_I_deal_with_dividends_in_Platinum_Payroll%3F&oldid=40792"