Dividends
Last updated
Last updated
Depending upon the number of shares bought buy a clients and the time taken, Dividends can be posted to linked savings account in Mifos X. For example, the number of dividends declared from the company is 2000 and Number of clients is 5. So depending upon the number of shares and number of days, this 2000 is divided and distributed to the clients.
One needs to Initiate the dividend initially, then post dividend. Later on automatically respect batch job - "Post dividends for share" runs. Dividends gets posted to linked savings account.
Tips- In order to initiate the dividend you need to have created share product & should have share accounts.
Beginning at the main screen, select Admin, then click on Products from the drop-down menu. This will launch the Products menu.
Select Share Products, then Click on the create product then click Dividends.
Please refer above Image. Details mentioned below are updated with respect to the provided fields.
1 - Provide Dividend period start Date - This Is the dividend start date, from this date dividend is applicable.
2 - Provide Dividend period end date - This Is the dividend end date, from this date dividend is not applicable.
3 - Provide Dividend Amount.- This Is the dividend whole amount to be issued.
4 - Click on submit button.
In this example dividend amount is provided as 5000$, so it would split all the dividend amount among all client's share account.
On clicking on the post dividends, you are approving dividends to be posted. Until and unless post dividends are applied, dividend are not posted.
Respective scheduler job Post dividends, this will run the job and only then dividend gets posted to their respective share accounts and linked savings account.
In the image below, you can see that the dividend has been posted to linked savings account.
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