Year End Closing Entries

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We have Partnerships in Solomon.  My Question is . How do I post to the Capital Accounts for year End?

Example Accts---Capital Accts as Follows:

   2830   A Capital----------38%

   2835   B Capital----------35%

   2837   C Capital----------27%

  Profit of $300K

What is the entry I Should be doing for year end?

The Dos version would be

Dr. 2899 Current Earnings--------300,000.00

Then Allocate to 2830,2835& 2837 Capital Accounts

In the Windows It has allocated to 2600 Retained Earnings.

Thanks for your help.

 

 

 

All Replies
  • Hi Fritzy,

    I'm not sure I understand the question.  You would make the same type of entry you made in Solomon III.  I believe the concepts are the same in both versions.  Let me know if you have other questions or can clarify what you don't understand in SL.

    Carolyn

    Technical Support Engineer

    **This posting is provided "AS IS" with no warranties and confers no rights.