Define Income Allocation (MYOB Ledger)

https://help.myob.com/wiki/x/yrXMAQ

Use the Define Income Allocation function to allocate the percentage of distribution to beneficiaries without having to manually enter journals.

Income Allocation accounts

For all entities, check that the correct Income Allocation accounts are set up in MYOB Ledger.

Use the following tables to check the correct accounts to use.

If your client is a partnership, you need to define:

each partner
the partnership income allocation in MYOB Ledger to set the percentage of profit that is to be distributed to each beneficiary.

On the TASKS bar, click Launch AE/AO Ledger.
Click Settings > Income Allocation. The Income Allocation window appears.
Click Manager Owners.
Click the drop-down arrow.
Check each owner and, using the Income Allocation Accounts table above, check that the correct retained earnings and CYE accounts are used.

On the TASKS bar, click Launch AE/AO Ledger.
Click Settings > Income Allocation.
To display the owners, click the drop-down arrow next to the current period.
Enter each partner and their partnership (equity) share.
Click Save. This sets the percentage of profit that is to be distributed to each beneficiary.

Different distribution percentages can be allocated for different periods.
To add a new period allocation:
1. Click Add Allocation.
2. Enter the financial year from which the new allocation is effective.
3. From the drop-down list, select the beneficiary and allocate the percentage.
  
  The percentage total must be 100%.
  
  Client Accounting automatically creates a distribution journal and allocates profit to the beneficiaries.