How to Prepare Final Accounts in Partnership Firm

Process

First Go to Final Accounts Tab.

            

In this click on Create Business > Enter Business Name and Save.

            

Now, Click on Create Partner Button on Left panel.

            

Enter Partner Names and Profit Ratios.

            

Now fill the required data in - 

            1. Trading A/c 

            2. Profit and Loss A/c

            3. Profit and Loss Appropriation

After that Click on Capital Account, Select Partner's Name in Drop Down Option and fill data for particular Partner.

            

After that fill details in Balance sheet.

            

Once all the Details are filled then generate the report through > Reports Tab.

            

Hope this helps.

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