PS Help: Client Accounting Help
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Accountants Enterprise in Australia only

Use the steps below if you are migrating from AE Accounts and creating a partnership (individual/sole trader).

System accounts

In standard migration, the system accounts for AE Accounts are:

 

GST Payable

892

GST Collected

940

Retained earnings

1-585

Current year earnings

1-590

1-585 will not exist in the drop down, however they will exist in the chart. Currently the prefixes are not being displayed in the migration dropdown.

 

Manage Accounts

Make the following changes under Manage Accounts.

To manager accounts

  1. Set up income allocation using the TASKS bar item in Client Accounting (first partner/individual)

    Owner Name

    Partner Name/Individual Name

    Retained earnings acc no.

    1-585

    Retained earnings acc name

    Opening Balance

    Current year earnings account acc no.

    1-590

    Current year earnings account acc name

    Share of profit

  2. Continue to add owners for all partners.

  3. Use the income allocation to allocate the percentages required for each partner. During the migration process, the system will automatically create account type groups based on the partner names, and allocate the account type groups to the existing accounts.

 
Related topics

Migrating an existing ledger

Migrating from AE Accounts—creating a trust

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Accountants and Partners
Client Accounting
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AE Statutory Reporter (NZ)
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Workpapers (NZ)
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