Partnership Processing

Partnership processing is used to track, allocate and report on the financial positions of all partners in a general partnership based on each partner's ownership interest. The program allows partners to be identified as either general or limited partners. The program provides the following features:

• Functionally allocates to the general ledger accounts within
   partner groups (General & Limited)
• Prepares K1's
• Tracks multiple partnerships for partner groups
• Maintains data by partnership and individual partner

OGSYS partnership is used to record contributions and make distributions of partner capital, print partner checks, and K1 forms. As with other menus, the partnership entries are fully interfaced to the General Ledger of the partnership.