How can the approved dividend be paid to members in EUR?

How to get the approved dividend Pay members in EUR? Is it at all possible to do this if the company keeps its books in HUF, or if the dividend was not approved in HUF by the general meeting?

If a company keeps its books in forints and prepares a report in forints in accordance with the accounting law, which report shows the dividend in forints, due to the dividend, the company cannot have an obligation to pay dividends in EUR.

If the company keeps its accounting records in forints, then the dividend can only be determined in forints, and after deducting SzJA and 14% EHo in forints, the remaining amount can also be paid in forints.

However, the members' meeting can decide that the dividend approved in HUF should be paid to the owner not in HUF, but in EUR. At what exchange rate should we convert HUF to EUR?

If the meeting of members has determined the date of the dividend payment, then when determining the amount of EUR to be paid, the starting point must be the amount of EUR that the member could purchase on the free market from the dividend determined in HUF at the time of the dividend payment. This it is clear that if the company does not have EUR, it must first be purchased in order to be able to pay the dividend in EUR. But it is reasonable to act accordingly even if the company has EUR. In this case, the difference between the EUR acquisition rate and the EUR selling rate of the financial institution managing the EUR bank account at the time of dividend payment must be accounted for by the company as an exchange rate difference.

A member's dividend was set at HUF 2 million by the members' meeting. Accounting process:

• Approval of dividend: T 493 - K 475 HUF 2,000,000
• Deducted SzJA T 475 - K 462 HUF 300,000
• Withdrawn EHo                  T 475 - K 463        HUF 280,000

The net dividend to be paid: HUF 1,420,000. The current selling rate of the financial institution managing the foreign currency bank account valid on the day of payment is HUF 300/EUR.

• If we do not have a foreign currency account, we start the transfer from the forint account to the member's euro bank account. This does not result in anything special for the company.

The account is debited with HUF 1,420,000, and the member receives EUR 4,733.33.

• T 475 – K 384              HUF 1,420,000
• If we have a foreign currency account, we start a transfer of EUR 4,733.33 from our own foreign currency account. If, on the other hand, the current registered exchange rate of the currency on our foreign currency account differs from this, the difference must be accounted for as an exchange rate difference. (For accounting, it is worth using a transfer invoice, let it be 479.)
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  • If the registration rate is lower, it should be HUF 295/EUR
    • T 475 – K 479 HUF 1,420,000
    • T 479 – K 386 HUF 1,396,333 (4,733.33*295)
    • T 479 – K 97         23.667 (exchange rate gain)
  • If the registration exchange rate is higher, it should be HUF 310/EUR
    • T 475 – K 479 1,420,000
    • T 479 - K 386        1,467,332
    • T 87 - K 479          47.332 (exchange rate loss)