In HandiLedger, when you close off an entity's year, rolling forward, HandiLedger will create automatic journals to distribute profit. HandiLedger uses the information specified in Partners' Details when making the profit distribution.
Partnership distributions
Log in to HandiLedger and select your entity.
From the View menu, click Partner Details. The windows are divided into an upper and lower section. The upper section displays information relating to the individuals’ names, while the lower section shows the profit distribution.
To add name details of the first individual, click New. The first partner entered will appear in the Partners Declaration report.
After completing the individual names, specify their profit distribution.
Click Year, New.
Type the accounting year to which the distribution relates.
Use either the Amount or the Percentage column to type details of the distribution.
Click Save.
Tip: You should distribute 100% to one individual. Where 100% distribution is specified, HandiLedger will distribute the balance of profit to that person, and this will avoid any rounding issues.