Buying Partnership out

[BEzBookkeeping]

I am in need of some help to how I am to enter the purchase of buying out a Partner. Also the Partner is getting paid on a monthly base for the next 3yrs.

[Tracey_H]

Hi @BEzBookkeeping 

I'm sorry to see that no one has replied to you yet. As we're not accountants we're not permitted to advise how these transactions should be recorded. You would need to check with the accountant to ensure the purchase is recorded and reported correctly.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

[BEzBookkeeping]

Thanks for reply. It's all good I have worked it out myself and Accountant got back to me and checked it. All was done just right.