Trust and partnership distributions
Recorded on a demo practice with fictional data.
Open the video pageMYLEDGERTax preparation & working papers
Trust distributions
Allocate trust net income to beneficiaries and post or unpost the distribution journals.
The problem it solves
Trust distributions need to match the resolution and be journalled correctly.
How it works
- Enter the beneficiaries' shares.
- Review the allocation of net income.
- Post the distribution journal, or unpost it if things change.
What your practice gets
- Allocation and journals together.
- Reversible.
- Supports resolution records.
Watch it in the product
A short recording of trust distributions in use.
Questions accountants ask
Can I unpost?
Yes.
Does it draft the resolution?
It supports the figures; your practice prepares the resolution.
Is there a tutorial?
Yes, see the trust and partnership distributions tutorial.
Related features
Features that work alongside trust 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.
VideoPartnership distributions
Split partnership net income between partners and post or unpost the journals.
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.
ATO small business benchmarks
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.
VideoSee 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.