How Add Partners (Capital Accounts) Opening Balance ?

To add new partners in GLOWSIMS:

1. Navigate to Capital Accounts from 'Control Panel' menu .
2. Click "New Account".
   
   
    
3. Enter details:
   • Capital Account Title (Partner’s Name)
   • Opening Balance: 
4. • • Paid in advance : This means the partner has already withdrawn funds before business operations start.
     • Amount to Pay : This means the partner is yet to contribute this amount to the business.
5. Click 'SAVE & NEW' or SAVE & CL

📌 Impact on Summary:​

Paid in advance

• Capital Account ↓ (Since the partner has taken funds, it reduces their investment)
• Starting Balance Equity ↑ (Since the company had to adjust its initial funds for this withdrawal)

Amount to Pay

• Capital Account ↑ (Liability for the business to receive funds from the partner)
• Starting Balance Equity ↓ (Because the system adjusts initial equity accordingly)