Hi, Is it possible to do a year end profit distribution in Reckon Hosted? eg with journal entries et

AlisonSingleton
AlisonSingleton Member Posts: 1 Novice Member Novice Member
in Accounts Hosted

Hi, Is it possible to do a year end profit distribution in Reckon Hosted? eg with journal entries etc. I Set up a partnership file but cannot work out how to distribute the income.

Answers

  • Acctd4
    Acctd4 Accredited Partner Posts: 4,216 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    Hi @AlisonSingleton

    Reckon Accounts / Hosted automatically transfers FY net income on 30th June to your Retained Earnings account on 1st July. However, you can journal further distributions out into separate account(s) if you prefer.

    To do this, you need to DR Retained Earnings & CR the separate Partner (also Equity-type) accounts 😊

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  • Zappy
    Zappy Accredited Partner Posts: 5,256 Accredited Partner Accredited Partner

    @AlisonSingleton Do you understand Accounting? Or Journal entries?

    Have you looked in the help files?

    Kr

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