Set up "accrued distributions" for L.P.

Would like an example of the chart of accounts and entries for accruing partners distribution to be distributed the following fiscal year after the certified audit of fhe previous fiscal year. We have been on a cash accounting basis.

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

partners distribution to be distributed the following fiscal year after the certified audit of fhe previous fiscal year. We have been on a cash accounting basis.
distributions have no effect on profits so why would you want to accrue this?
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

BeanSmart.com is a site by and for consumers of financial services and advice. We are not affiliated with any of the banks, financial services or software manufacturers discussed here. All logos and trade names are the property of their respective owners.

Tax and financial advice you come across on this site is freely given by your peers and professionals on their own time and out of the kindness of their hearts. We can guarantee neither accuracy of such advice nor its applicability for your situation. Simply put, you are fully responsible for the results of using information from this site in real life situations.