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How to split profits among different owner's equity account

by Intuit Updated 2 days ago

You can use Journal Entry to split the profit by different owner’s equity accounts.

The steps are as below:

  1. Select + New.
  2. Select Journal Entry.
  3. Enter the entries as follow:
    • Debit retained earnings
    • Credit Owner’s equity account A
    • Credit Owner’s equity account B
    • Credit Owner’s equity account C
  1. Select Save.

After that, run a Balance Sheet report to check the decrease in retained earnings and Increase in Owner’s equity for the different owners.

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