Accounts - Partnerships
The incomplete records format deals with partnership accounts as well as those for sole traders.
The format provides the following as standard:
- Current and capital partners’ accounts
- Joint capital accounts
- Auto-calculation of partner shares of profit by fraction eg: 1/3
- Choice of accountant’s report
- Draft or final accounts
- First year accounts (no comparatives)
- Automatic page and note numbering
- Choice of layout of fixed asset and partner share notes
- Schedule of postings in partnership’s trading data on the partnership tax return
- Year or period accounts
- Income and expenditure accounts only (no balance sheet)
- Optional analytical review
- Automatic calculation of ‘disallowed’ expenses for transcription to the partnership tax return.
All the above may be amended to suit individual requirements in terms of content, layout and font using standard facilities supplied with Pinacle.