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Create Dividend Vouchers in QuickFile

If you’re trading as a limited company you may already be taking a part of your income as dividends. It is important that you keep the correct paperwork to support those dividends. This includes a set of board minutes to agree the dividend payment and a dividend voucher which is issued to the shareholder.

From today QuickFile are making it much easier to produce the backing documentation needed to support any dividend payment. You can find these new options in the “Reports” section under “Dividends”. You can then create your dividend documentation from any postings made to the “Dividends Paid” nominal code (3102).

You can also create dividend vouchers when you directly tag an outgoing payment from the bank to the dividend category. To make sure everything is prepopulated please first take a minute to setup your directors, shareholders and share capital profiles in the Management Information section (found in Account Settings menu).

That’s it for now, we hope you find this to be a useful time saver. If you’d like to suggest any improvements, we’re always happy to receive feedback.

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Glenn,

This is a brilliant feature and one of the reasons why I have often sent clients to FreeAgent. You have implemented better that they have with share capital, alphabet shares and the choice between interim and final dividends.

Very very well done! :grinning:

2 Likes

That’s great to hear, glad that you like it :+1:

That’s a really nice feature. Will it be also possible to add a corporate shareholder?

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There’s no specific way to add corporate officers or shareholders yet. We can look into that, however in the mean time you can save the shareholder as follows and that should work fine:

image

It still prompts for a DOB, but that won’t appear anywhere on the Dividend documentation.

I’ve identified what could be a bug with this:

Dividend Report > Create Dividend Voucher

I see both of my journal entries prior to creating a voucher. However, after creating a voucher for one of the entries, the second one can’t be found using that same screen. I’ve tried deleting the voucher and then they both appear. I’ve then create a new voucher with the other entry successfully and experience the same behaviour.

Happy to share screenshots/give account access via PM if that helps.

Hi @Halo3

Let me send you a PM and we’ll definitely look into this.

@sasopuksic just a quick one to let you know that there’s now a dedicated checkbox for marking officers and shareholders as “Corporate”.

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Impressive! Not come across this elsewhere although I am a bit out of date.

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This feature is awesome - thanks folks!

Just a quick note - there’s a typo in the vouchers: “it was proposed and resolved that a an Interim dividend” (emphasis mine). Easy fix, I’m sure!

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Thanks for your feedback Curtis, we’ll get that fixed.

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Thanks for adding this. Minor feedback, aside from also noticing the typo. I just managed to enter the dividend transaction the wrong way around first go (money in and money out on DLA still gets me! :smile:) Slightly surprised that the dividend voucher creation doesn’t pick this up?!

Hi @NeilCSmith

Can you please let us know what steps you took to create this, and I’ll pass this over to our development team?

Thanks @QFMathew I made a new transaction in the DLA, then tagged this to the dividends paid account - just got it the wrong way around first time. It still let me create a dividend voucher but seemed to use the absolute value of the transaction - I would have expected it to either refuse or show a negative dividend - ie. something obviously wrong?

Thanks for making us aware of that. We’ve just implemented a fix so it will only suggest dividends transactions that are leaving the bank account.

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