Statement of Changes in Capital Accounts

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In other words, I would like to see the total amount of additional capital contributed by each member, the amount withdrawn (the amount in their drawing account), and the net income allocated to each member.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?

I get what you are saying but Statement of Changes in Capital Accounts already does this.

Have a look at the following dummy example:

This shows you list of people in the first column and sub-accounts such as Distribution of profit, Drawings and Funds contributed are in subsequent columns. This is really good way to show movements as you can easily see total movement per sub-account but also total movement per person, all coming to grand total in bottom-right corner which is the final balance of capital accounts (which can be then seen on balance sheet too)

Hey, what do you know. It already works exactly how I wanted it to!

It turns out that I had, without realizing it, generated a report with a date range where not much happened…

I made my columns in the Statement of Changes in Beneficiary Loan Accounts but it puts the same amount in every column instead of separating the amounts out by each partners contribution or withdrawal. I have expense claims entered correctly and the cash accounts have purchase and withdrawals designated to each partner. What am I doing wrong to get this report to show each partners activity?

@SFSD, you need to furnish more information. The report you mention does not exist, so you may be using outdated software. Update your software to see if whatever is happening is resolved. The current report on capital accounts is called Capital Accounts Summary. And there is a Statement of Changes in Equity.

If the problem is not resolved, please post screen shots to illustrate.

You will need to demonstrate by a screenshot. Just make sure to wipe out personal information before posting it.

Than you for the response. I have updated my software and found the current report you mentioned. This has solved the problem. Thank you