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The dividend management module is one of the additional modules available to Oskari. It can be used in companies, cooperatives and co-operative forests. The module contains tools to calculate the dividends and return of capital and dealing wiht pre-tax calculations. Oskari contains functionality to pay and report the dividends and capital to the shareholders and members.
Dividends and interests are calculated according to the record date. This can be the day of the general meeting or any other selected date. There are several ways by which the dividends or interests can be calculated. This can be done according to the numbers of shares or by use of services offered by the cooperative. All calculated dividends and interests are stored into the Oskari database.
Oskari generates reports of paid dividends, paid interests, unpaid dividends and unpaid interests. The person getting the dividend or interest can be the shareholder. Oskari supports the donation and retention of dividends.
After the calculation and distribution of dividends and interests to shareholders and members, pre-tax calculations are made and the amount of tax is saved. This tax is deducted from the dividend before the interest are paid to the beneficiaries.
Oskari creates a SEPA pain.001.001 file to be sent to the bank. It is possible to use several different banks for payments. If the bank is unable to transfer the sum to a specific bank account, this is recorded in the database and the payment will be withheld until a correct bank account number has been received from the shareholder.
All dividends and interests paid during the year can be collected to a file and sent to the tax authority when required.