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Capital Account Introduction & Purpose

8 Feb, 2025 Capital Account

In institutions managed by multiple partners, tracking capital contributions, withdrawals (drawings), and profit distribution is crucial. The Capital Accounts module in GLOWSIMS provides an efficient way to record and manage these transactions, ensuring accurate financial reporting and transparency among partners.

Purpose

  • Maintain records of each partner's capital investment and withdrawals.
  • Track profit sharing among partners.
  • Ensure correct financial representation in the Chart of Accounts (COA) Summary.
  • Improve financial transparency for decision-making.

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