Capital Accounts

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Capital accounts

Capital accounts are used to track funds contributed, drawings and share of profit of business owners. They can be adapted to suit any type of business entity including sole proprietors, partnerships, companies, trusts and funds. [image] Sole proprietorships only require a single capital account. Partnerships require a capital account for each partner. Trusts require a capital account for each beneficiary. Funds require a capital account for each member. [image] By default, capital accounts …