Dividends

MMaynardMMaynard Member Posts: 4

I currently have my TD Business Account and TD Personal Account tied to my wave back office
when i move money/transfer funds from TD Business Account that are dividends to my personal TD account, how should i record these transactions,
right now, it shows as a transfer between the two

Comments

  • applesapples Member Posts: 10

    @MMaynard This is a two-fold question here. The initial receipt of the dividends posted to your TD Business account should be classified as income which would in effect increase your bank balance.

    The transfer that you make to your personal account is another event which deducts from the available bank balance. It sounds like transactions from your Personal Bank Account is being pulled into your Wave Business Account (which is not recommended), however, in the event that it is noted as a "transfer", it would be the correct categorization. What "transfer" means is that the transaction is just a flow of funds which is devoid of income or expense properties. You can read more about this here.

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