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Level 7

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My suggestion is that you set up a class for each partner.  Record income and assign a class.  Set up an expense account for guaranteed payments.  When you write a check, also assign a code.  You can also apply a class to expenses either 50/50 for general company expenses or 100% to one partner if it is only related to one partner such as job supplies.  You can then run a P&L by class to see each partner's total income and total expense.  The cash in the bank would then be distributed by percentage of total.

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