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Shareholder Disbursements

  • September 26, 2022
  • 4 replies
  • 185 views
K
Freshman I

What are the best practices for booking Shareholder disbursements in Acumatica? Should this be thru AP as Vendor payments?

Best answer by Kandy Beatty

HI @kathrynaisd26 

Then do it as a straight vendor Bill, you can offset to their own account as well:

 

    4 replies

    BenjaminCrisman
    Acumatica Employee
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    • BenjaminCrisman
    • Acumatica Support Team
    • September 26, 2022

    @kathrynaisd26 Are these disbursements like dividends? If so then it seems it would be best to go through AP to make sure if any 1099 amounts need to be recorded are captured.

    Someone can correct me if I’m wrong but this should fall under one of the boxes for 1099 payments

    Actually, it looks like we are currently gathering feedback for implementing the 1099-INT
     

     

      Kandy Beatty
      Captain II
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      • Kandy Beatty
      • Captain II
      • September 26, 2022

      Hi @kathrynaisd26 

      Are you actually cutting a check for them?

      It could be handled as a Vendor Payment or you could do a journal entry. If you are doing just a journal entry, they can have their own account on the chart of accounts and you can do topsided journal entries. 

      A Vendor Payment would keep everything in Acumatica for accounting purposes however. 

      Kandy ~ If a member helped you, please *Like* their post, and if a member provided an answer to your question, please mark it as *Best Answer*.
        K
        Freshman I
        • kathrynaisd26
        • Author
        • Freshman I
        • September 26, 2022

        Yes, I am cutting a check or ACH transfer.

        I am not sure if this is a 1099 related transaction.

          Kandy Beatty
          Captain II
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          • Kandy Beatty
          • Captain II
          • Answer
          • September 26, 2022

          HI @kathrynaisd26 

          Then do it as a straight vendor Bill, you can offset to their own account as well:

           

          Kandy ~ If a member helped you, please *Like* their post, and if a member provided an answer to your question, please mark it as *Best Answer*.
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