PA: Distribute Retained Earnings

When using Distribute Retained Earnings, a batch is created with journal entries to distribute amounts from the Retained Earnings account of the Entity (Standard Setup)/Company (Simplified Setup) associated with a Partnership to the Investors' retained earnings account using journal entries.

This process is normally run once a year after the final Year End Close has been processed. Amounts are prorated following the same formulas used by the PA: Create AP Invoices process.

Refer to the Partnership Accounting Overview for more information, including information on calculations.

Permissions must be set in the System module to access all Distribute Retained Earnings activities.

Permissions for Distribute Retained Earnings

System module—Security—Users—Partnership Accounting—Transactions—Distribute Retained Earnings

Partnership

Click the Lookup icon to display the Select Partnership pop-up and select the Partnership ID for the Partnership that the distribution of retained earnings is for. Partnership IDs are added to the system using the Setup Partnership grid.

From/Thru Date

Enter a date range for the retained earnings distribution you are creating. These dates are used when calculating prorates and percentages. To enter the dates, use the Electronic Calendar

The transaction date cannot be greater than the From Date if the Use Simple Partnerships Setup Global Policies Tabs on the Partnership accounting tab is selected.

Distribution Amount

Enter the amount that is being distributed via the GL journal entries.

Accounting Date

Enter the accounting date to use for the journal entries, which defaults to the login date. To change the date, use the Electronic Calendarto select a date.

Process (button)

Click the button to process the retained earnings distribution.