Enter the gross amount of sales and then enter your expenses. Commissions paid to the sales reps are part of those expenses.
The partnership capital account is an equity account in the accounting records of a partnership. It contains the following types of transactions:
- Initial and subsequent contributions by partners to the partnership, in the form of either cash or the market value of other types of assets
-
Profits and losses earned by the business, and allocated to the partners based on the provisions of the partnership agreement.
- Distributions to the partners
The ending balance in the account is the undistributed balance to the partners as of the current date.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
