Accounting/Bookkeeping for Partnership

Discussion in 'Professional Trading' started by StopLoss, Aug 5, 2009.

  1. StopLoss


    I'm researching this for someone else...

    I saw several other threads cover this but never really saw an answer.

    In this, there trading done with an institution accounts (IB) under an LLC or Partnership. Business has it own EIN but no payroll. Just two partners.

    Seems like all the accounting packages I saw that support businesses with EINs (QuickBooks Pro, Peachtree, MS Dynamics) don't support importing trades from brokerage accounts (IB Institution account in this case). They all have fancy features to bill, create reports, even payroll if needed but nobody seem to consider that "trading" could be a business.

    I assume large HedgeFunds can pay 10-20k for fancy accounting packages (Fitek, Archway Technologies, PennyItWorks, FundCount, etc.)

    What do other people do?