Partner or Member Resigned / Died During the Period

Introduction

When a partner or member leaves a business you need to set up a new share date to reflect the new profit allocation.

1. Select Edit | Partners or Members

2. Highlight the partner that has left the business and select View.

3. Enter the date the partner or member has left in the To field.

4. Click OK.

5. Click Close to close the Involvement screen.
   
   The Net Profit Share Dates screen displays.
   
   IRIS will display all share dates.

6. Select the line from xx/xx/xx (being the date that the partner or member resigned or died) and click Shares.

7. Enter the new profit allocation for all remaining partners or members.

8. Select Shares to see the percentage of the profit allocated to each partner/member.

• All active partners or members must be allocated a share of profit even if they receive zero percent this must be specified by ticking the Zero field for that partner or member.

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