Chart of accounts for a financial trading company

I want to set up a chart of accounts for a futures trading company (financial trading business). The company is entitled to receive 80% of profit it generates in the brokerage account. This share of profit can then be paid out in cash at the company’s request.

If a profit of $10,000 is made in any given period:
Credit “Sales” with $10,000
Debit “Accounts receivable” with $10,000

Debit “Sales discount” with $2,000
Credit “Accounts receivable” with $2,000

If a loss of $10,000 is made in any given period:

Debit “Sales returns” (contra-revenue account) with $10,000
Credit “Accounts receivable” (asset account) with $10,000

Does it make sense? Can you suggest a better design of a chart of accounts for this type of business?

Your question is really beyond the scope of the forum, which is to discuss aspects of how to use Manager. Design of your chart of accounts is really up to you and your accountant.

@philly_123 - have a read of this topic Can Manager handle investment tracking?

You will note that the topic includes greyed out links to other related topics.