This support note applies to:
-
AE Statutory Reporter (NZ)
-
AE Statutory Reporter (AU)
-
AO Statutory Reporter (AU)
-
Workpapers (NZ)
-
AO Workpapers (AU)
-
AE Workpapers (AU)
For Superfund reporting within Client Accounting, you need to allocate earnings and distributions to members.
To allocate the earnings, add a journal to the workpaper and then allocate the distribution of profit or loss.
Use the table below to process the distribution of profit or loss through member's accounts.
|
Account |
Description |
Sign |
|
|
Profit Distribution |
|||
|
550 03 |
Distribution to members |
Debit |
|
|
551 02 |
Allocated Earnings (for member 1) |
Credit |
|
|
552 02 |
Allocated Earnings (for member 2) |
Credit |
|
|
55# 02 |
Allocated Earnings (all required members) |
Credit |
|
|
Loss Distribution |
|||
|
550 03 |
Distribution to members |
Credit |
|
|
551 02 |
Allocated Earnings (for member 1) |
Debit |
|
|
552 02 |
Allocated Earnings (for member 2) |
Debit |
|
|
55# 02 |
Allocated Earnings (all required members) |
Debit |
|