Trust and partnership distributions
Recorded on a demo practice with fictional data.
Open the video pageMYLEDGERTax preparation & working papers
Partnership distributions
Split partnership net income between partners and post or unpost the journals.
The problem it solves
Partner shares must be calculated and recorded correctly.
How it works
- Enter partner shares.
- Review the split.
- Post or unpost the journals.
What your practice gets
- Partner shares calculated.
- Journals posted.
- Reversible.
Watch it in the product
A short recording of partnership distributions in use.
Questions accountants ask
Can I unpost?
Yes.
Which rules apply?
Partnership provisions of the tax law; you decide the shares.
Is there a tutorial?
Yes.
Related features
Features that work alongside partnership distributions.
Working papers hub
One tabbed page per client for year-end schedules: checklist, GST, tax return labels, depreciation, amortisation, Division 7A, FBT, investment income, distributions, franking, dividends, SMSF and more.
VideoSMSF member allocation
Allocate the fund's result across members, with checks including pension minimums.
VideoIndividual tax estimate
Estimate tax payable for resident individuals in working papers and tools.
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Compare a client's ratios with published ATO small business benchmarks for their industry, with risk indicators and trends.
Tax return label report
Map the ledger to ATO tax return labels with drill-down, so return figures trace back to transactions.
VideoBook-to-tax reconciliation
A book-to-tax working paper for each year that bridges accounting profit to taxable income.
See it working in your practice.
Start with one workflow and adopt more of the connected practice system over time. Your team reviews and approves the work.
14-day free trial. A payment method is required to start. Your paid subscription starts automatically when the 14 days end; cancel during the trial and you pay nothing. After the trial, a 6-month minimum term applies, then month-to-month. Commit to 12 months up front and the monthly price is 20% lower. See pricing.