Partnership capital account maintenance software or spreadsheets
I'm running a microscopic partnership as a conduit to share profits and losses on a simple brokerage account, just equities, etf's, and simple long options. Just two general partners. The current spreadsheet I put together is doing well and getting the job done. But besides opening up an adviser/fund account on interactive brokers are there any simple sites, software, or spreadsheet that anyone on here put together or uses to maintain this record clear and simple?
Current challenges are:
- Irregular deposits and unequal partnership interest, with an agreement on no withdrawals until end of year.
- Waiting until 8pm to take that balance as the basis prior to adding any new funds as any new contributions made during trading hours would be nearly impossible to accurately account for in partnership interest, unless a screenshot were taken I guess.
- To avoiding diluting partner (A), that doesn't happen to be contributing capital at the time that partner (B) is making a contribution. This is especially difficult to explain to partner (A) if the contribution by partner (B) took place while the account was in negative, or under the total capital contribution amount, as there is some inevitable dilution that way.
Currently an idea that has been thrown around is that a partner wants to contribute a larger than usual sum of capital but would like to make the contribution as a loan only, I believe this would fall somewhere between non-recourse deduction or liquidating distribution at the end of the year without any impact to any of our capital contribution interest accounts. But the thing is even if I properly set this on the 1065 at the end of the year and we both submit our k-1's without any issue, If there's an easier way of doing this instead of me hacking away at a spreadsheet on a weekly basis, i'm all ears.
btw, yes I know first post, i'm old, not a millennial i'm sure I did something wrong or against the rules, monkey shit me all you want I guess, but please throw in a good answer if you have one.