Distributing Profits in a Partnership in AO Classic General Ledger

This support note applies to:

• AO Classic General Ledger (AU)

In MYOB AO Classic General Ledger, when setting up or finalising your client's partnership ledger, you may need to distribute the profit between each partner.

To distribute profits in a partnership in AO Classic General Ledger, from within your general ledger client click the General Ledger drop down menu and select Income Allocation definition.

If no information exists in this window, press F4 to add a new line. Ensure that the accounts 501/02 and 502/02 are entered with the appropriate distribution percentage.