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• # 108856
• Tue 26 May 2015 07:45 PM

Hi all,

i am looking for a bit of help.. 

I know how to work out the goodwill amounts but when doing the journal on the computer do you need to open a new nominal code for the goodwill to be posted to or do just use the partners capital nominal codes?

thanks Sarah 

• Sarah 
  
  
   
  
      
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• # 109369
• Wed 01 Jul 2015 09:14 AM

Hi Sarah,

In the chart of accounts you need to add Intangibles under Fixed Assets, then make a new account 0060 Goodwill.

DR Goodwill, CR Capital Account(s).

• Regards,

  Genevieve.

  
  

   

   

   

  
  

  
  

  
  

  
  

  
  

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