1. When setting up beginning inventories and equity accounts. In a Partnership or Corp. is there a way to set up owners equity accounts reflecting entities startup balances and then add additional paid up capital, or retained earnings Vs having the program divide total equity at startup. As this reflects value of inventory (grain) which will shortly be sold and proceeds used for expense items. I'me not a CPA maybe this is not a valid concern?
2. Our partners each own Equipment outside the Partnership which is used by Partnership. What is the best way to track fuel and repairs, acres covered on this equipment(cost of operating as the partnership pays these expensed without showing these assets on the balance sheet and depreciation schedule? A rented equipment group with negative profit enerprise charges per acre?