Hillsboro, AL | You can make a General Journal entry and put the cash amount in undeposited funds. Undeposited funds is just an asset account like any other. I handle patronage dividends via general journal entries. - Debit Undeposited Funds for the cash/check amount
- Debit "Allocated Equity" (an other asset account) for the non cash portion
- Credit Patronage Dividends (an income account) for the total
This method will carry the unpaid dividends as an "other asset" on your balance sheet.
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Patrontage Dividend entries into QBPro 2009
