Do I need to create journal for Dividend payment

Do I need to create Journal for dividend? My accountant suggested to create a journal for dividend, which records credtis under 2012 other creditor and debits 3102 dividend paid. But, when I record bank transactions and tag it with 3102 dividend paid again, the same dividend appears under 3102 twice.

What should I do in this case? Does dividend payment require a journal?

Just tag bank payment to dividend

If you declare the dividend before year-end, but pay it afterwards, then you would need to create a journal to reflect the liability on your accounts. When the dividend is then paid later, you tag it to the liability, not the dividend paid nominal. i.e. tag it as “something else not on the list” and enter nominal code 2012 which will clear the balance there.

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