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How to account for expenses in a investment partnership capital call

Dee Carpenter

I'm trying out the investment partnership feature in quicken r49.29. I have a capital call that looks something like this:

Total Capital call: $20,000

Buried in that $20K are administrative & partnership fees totaling $400 leaving $19,600 that is actually put to work.

Using the Partnership - Capital Call transaction type you can only enter one amount.

What should I be doing here?

Thanks.

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UKR

For those of us who aren't familiar with Partnerships, please read more about it here:

https://help.quicken.com/display/WIN/Investment%2BPartnerships%2Bin%2BQuicken

At first blush I would have suggested that you record this as a Split transfer from checking to the LP investment account, with $400 categorized to some Expense category.
But the Capital Call transaction itself or any of the other Partnership transactions does not appear to have a provision for entering expenses.

Someone from Quicken with experience in the Partnership feature will have to answer your question. Let me see if I can get hold of someone for you.

Quicken Kristina

Hello @Dee Carpenter,

Thank you for reaching out to the Community. Currently, there is no feature in Quicken to record expenses in investment partnerships. Our development team is aware of this and is working to implement it in a future release.

Thank you.

(CTP-6802)

Dee Carpenter

Quicken Kristina,

Thanks for your response. When you go to enhance the investment partnership feature I would be glad to help beta test the feature. Two other questions —

The documentation mentions that there is a way to specify a return of capital amount in a distribution. I don't see how to do that.

I also have a partnership where all or most of the distribution is interest. Is it possible to fudge the transaction to reflect that?

Thanks.

Dee

Quicken Kristina

Thank you for your reply,

To specify a return of capital, click on the account you need to document it in to pull up the register. Click the Enter Transactions button. In the window that comes up, click the dropdown box and select Return of Capital. Then fill out the information as appropriate.

For the Dividends that are mostly interest, you could use the Enter Transactions button and select Inc-Income (Div, Int, etc).

Thank you.