Hello,
Is anyone using D365 FiOps, BE for an S-Corp? If so, how do you record contributions from shareholders?
I created a new G/L Account for Shareholder Contributions, but it also required that I change the M-CASHFLOW and M-RETAINED Account Schedules. The problem is that future releases may overwrite all my changes to the reports and erase all my changes. That’s the prompt you get when you change the account schedules.
I tried posting a Credit to the Shareholder Distributions G/L Account with a Debit to Checking. This worked for the Balance Sheet report, but not for the Retained Earnings report because the Shareholder Distributions account is always subtracted from net income, regardless if it’s a positive or negative number. With a contribution, you want the monies added to Retained Earnings. Again, I would have to change the report, and I could lose all the modifications.
Prior to D365 FiOps, I was using Sage 50 and this app included a G/L for Distributions from Shareholders. Each time I ran the Retained Earnings report, the app would add or subtract from Retained Earnings the net of the Contribution and Distributions accounts. These accounts would be rolled into Retained Earnings at the end of the year.
Regards,
Ian
