How to map business partners & their accounts ? All Business partners have warehouses and they can store goods there. Business partners have contributed some amount to business so there has to be initial opening entry from each one
Hello,
You should create an account for each partner under Equity. On receipt of investment from the partner, you can make this Journal Entry.
Cr. Partner’s equity account … XXX
Dr. Cash /Bank account … XXX
For tracking stock, you can create separate Warehouse for each business partner.