I have been playing around with the new Manager features. I like the addition of capital accounts, but I do have a suggestion with regards to the new Statement of Changes in Capital Accounts report.
A typical partnership/LLC (in the US) will have two or more members each with a Capital and Drawing account. The capital account contains record of contributed capital, allocated profit (or loss), etc. The drawing account contains the withdrawals of funds the member has made over the year (e.g., perhaps one member takes $1,000 per month for personal use). At the end of the fiscal year, typically the drawing accounts and retained earnings are closed out to the capital accounts.
With the new capital account feature, the members can be created and the capital and drawing accounts can be added as sub accounts. However, the sub accounts aren’t shown on the Statement of Changes in Capital Accounts report.
I would expect to see something like the example shown here: http://en.wikipedia.org/wiki/Partnership_accounting#Statements_for_Partnerships In other words, I would like to see the total amount of additional capital contributed by each member, the amount withdrawn (the amount in their drawing account), and the net income allocated to each member.
I haven’t thought this through entirely, but roughly it seems like the Capital Accounts report could be expanded further. Any thoughts?