The Accounts List will need to be adjusted slightly to reflect the distributions made to the beneficiaries. Set up liability accounts (using Account Type "Liability") for distributions made to the beneficiaries, but not yet paid. The account numbers will start with "2-", for example 2-9100. Each beneficiary should have a liability account. Set up other expense accounts (using AccountType Account Type "Other Expense") called distribution to beneficiaries. The account numbers will start with "9-", for example 9-9100. Once again, each beneficiary should have a distribution account. To create accounts, go to the Accounts command centre and click Accounts List. Click the applicable tab (Liability of Other Expense) then click New. |