SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K

                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

         Date of Report (Date of earliest event reported): May 21, 2003
                                  -------------

                               KOGER EQUITY, INC.
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             (Exact Name of Registrant as Specified in Its Charter)

                                     FLORIDA
                         -------------------------------

                 (State or Other Jurisdiction of Incorporation)


                  1-9997                                      59-2898045
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(Commission File Number)                       (IRS Employer Identification No.)

225 NE MIZNER BOULEVARD, SUITE 200
         BOCA RATON, FLORIDA                                      33432
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(Address of Principal Executive Offices)                        (Zip Code)

                                 (561) 395-9666
              (Registrant's Telephone Number, Including Area Code)

                                       NA
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         (Former Name or Former Address, if Changed Since Last Reports)







Item 9.  Regulation FD Disclosure

Koger Equity, Inc. announced a quarterly dividend of $.35 per share payable on
August 7, 2003, to shareholders of record on June 30, 2003, as more particularly
described in its News Release, dated May 21, 2003, a copy of which is attached
hereto as Exhibit 99 and by this reference made a part hereof.

For more information on Koger Equity, Inc., contact the company at
800-850-2037 or visit its Web site at www.koger.com.



Item 7.   Financial Statements and Exhibits.

(c)      Exhibits

                  Exhibit
                  Number   Description of Exhibit

                      99   Koger Equity, Inc. News Release, dated May 21, 2003.


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                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.




                                        KOGER EQUITY, INC.




Dated:  May 21, 2003         By:     /S/ Robert E. Onisko
                                      ------------------------------------
                                     Robert E. Onisko
                             Title:  Vice President and
                                     Chief Financial Officer


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                                  EXHIBIT INDEX

The following designated exhibit is filed herewith:

                  Exhibit
                  Number   Description of Exhibit

                      99   Koger Equity, Inc. News Release, dated May 21, 2003.

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