| FAQ 914: Budget - Error: "Ownership Percents do not equal 100%" |
I'm trying to run a calculation for a partnership but I am getting an error stating that ownership is not at 100%. One of the partners is set at 30% and the other is set at 70%. Can you look at the attached and let me know if there are any setting incorrect within my Plan Specs.
Plan is Safe Harbor 3% with New Comparability formula.
The reason for the error "Ownership Percents do not equal 100% is because all percents for the owners must be completed.
1) NAME screen - Ownership Percent
2) SOLEPROP screen - Expense Percent
3) SOLEPROP screen - Override Percent
Since the May 2011 release the Budget program no longer automatically prompts you to input these percents through the ascwin blue screen. The percents still need to be coded but should be done via the actual NAME and SOLEPROP screens or using a Grid. We have created a grid to help you in completing the necessary fields for the owners. This grid is on your system and a version of this same grid can also be downloaded from our website.
Please open this special grid under Employee menu-View-Grid-Open, browse out to the REPORTS directory "BUDGET_OWNER_EMPLOYEE_INPUT.GRD". After opening complete the ownership percents and the soleprop income. You can "copy" the ownership% via View-Grid-Set Column Data.