Noob How to setup my below requirement. Partnership

1

Hi I am running a business with one more guy
We have 50-50 partnership

  1. Project basis income and expenses need to add

  2. Company basic expenses need to add

  3. No capital amounts

  4. Personal expenses of partners using company cash

  5. Daily expenses paid by both of them ( for projects or company expenses such as telephone bills)

  6. Partner 1 given partner 2 cash for personal and company expenses

  7. Partner 2 giving partner 1 cash for personal and company expenses

This is the scenario

We need report,

  1. At the moment each partner how much cash have,
  2. If one Partner have more than his profit in hand. , Need to know that amount. For giving to another partner and make both of them equal amount
2

This is not the place for basic accounting education, which it sounds like you need. There are many good, free resources on the internet for that.

As for how to use Manager to accomplish basic accounting tasks, start by reading the Guides. Please do not just ask how to do everything. I suggest you start with these, but you will need to read others, too:
https://www.manager.io/guides/8936
https://www.manager.io/guides/6898

3

Thank u for your kind reply, yes i understand, it’s not the place for basic accounting.
Still i am trying to set-up manager my own. I am not having an accounting background. As i have done an extensive Google research for the best software to use to manage own business, manager is the only one which i found better than any other paid solutions, Which i was going to purchase.

I am going through guides, but i just need to make sure , my scenarios can be successfully done on manager…
This only i need to know
Thanks

4

All the long list can be done in Manager. But the program will baffle you until you understand the accounting purposes behind it. Any tool is useless until you know what it is supposed to do.

5

yes

Capital accounts are used in Manager to track Partners equity. An existing business will have been created by some equity injection. Accounting records are likely to show this when constructed. Hence Tut’s link to Set up and use capital accounts
When a partner takes money out of the company they are reducing their equity in the company. This can be done many ways, which Manager can record, but you will need to decide what you are wanting to do and it’s consequences. Hence Tut’s link to Use expense claims

A partner giving cash to another person for personal expenses is likely to be outside to the partnerships accounting.

Tracking codes may achieve what you want, see Use tracking codes

6

I am experiencing the same from last one week.
I am carefully reading the guides

Still i am having no idea how i will add multiple projects and it’s income and expenses separately for each project

7

THANK YOU. Let me go through and try in manager with some test data

8

Hi, my needs are done, and tried with test data,

Now i need to know how profit can be shared between partners,

9

please read https://www.manager.io/guides/14397