I'm struggling to identify how to correctly record and match a dividends payment.
I've done a Journal entry to Debit Retained Earnings and Credit Dividends Payable for the full amount. I then debited Dividends Payable for the full amount (so it's now zero balance), and split the credit amount between Dividends Disbursed and Dividends Tax (20% tax).
The problem now is I can't match the actual amounts from the bank account for the dividend and tax (two separate payments). Have I incorrectly recorded the dividend, or how do I match the payments from the bank recon?
