How do I allocate my profit?

article ID: 103474 

 

Below you will find further information regarding the allocation of profit at Year End within Mamut Business Software. This can be done by setting up a separate Profit/Loss account to which you can allocate any profits you may have accumulated for the year.

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Once the account is setup, you can allocate the Profit as follows:

1. Go to View - Accounting - Journal Entry to open the Journal Entry module. 

2. Select the accounting year you wish to process the Year End for. 

3 .Create a New entry and select Journal type Miscellaneous and Period 13.

4. Enter 9997 in the N/C field.

5. Enter the profit amount in the Debit column.

6. Press Enter.

7. Enter 3200 in the N/C field.

8. Enter the profit amount in the Credit column.

9. Click on Update ledgers to transfer the journal entry.

 

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