II. Functioning of accounts
Class 4.  Accounts receivable and payable

45. Group and partners


Account 451 " Group " records as a debit the amount of funds advanced directly or indirectly on a temporary basis by the entity to Group companies, and as a credit the amount of funds advanced directly or indirectly to the entity by Group companies.

Account 455 " Partners - Current accounts " records on its credit side the amount of funds temporarily made available or left at the disposal of the entity by the partners.

Account 456 " Partners - Capital transactions " is subdivided in order to record separately the transactions relating to the creation of the entity or to the change in its capital:

  • Account 4561 " Partners - Capital contribution accounts " is debited with the amount of contributions made in cash or in kind by the partners by crediting the relevant subdivisions of account 101 " Capital ", it is credited by debiting the accounts recording the contributions;

  • Account 4562 " Capital contributors - Called-up unpaid capital " is debited by crediting account 109 " Shareholders: subscribed uncalled capital " when the capital is successively called up; it is credited when the contribution is made by debiting the relevant asset accounts;

  • Account 4563 " Partners - Payments received for capital increase " is credited with the counterpart of the payments made by the partners following the decision to increase the capital; it is debited at the end of the period during which the transaction is carried out either by crediting the relevant subdivisions of accounts 101 " Capital " and 104 " Premiums related to share capital " when the increase becomes effective, or by crediting a partner account, when the change in capital is cancelled if the amount is not realized;

  • Account 4564 " Partners - Prepayments " is credited with the amount of contributions that certain partners make available to the entity prior to the capital calls; it is cleared as and when these calls are made;

  • Account 4566 " Defaulting Shareholders " is used to correct the situation of shareholders who have not met their obligations at the time of a capital call;

  • Account 4567 " Partners - Payments for returned capital " is credited with amounts due to partners following the decision to return a portion of the capital.

Account 457 " Partners - Dividends payable " is credited with the amount of the dividends whose distribution has been decided by the competent bodies, by debiting:

Account 458 " Partners - Joint ventures and Economic Interest Grouping (E.I.G) " records transactions carried out through a joint venture or a E.I.G. as follows:


    Account 458 records investments between joint participants.

    The managing partner, the owner of the assets acquired or created within a joint venture, records the share of the other partners as a debit to account 458 by crediting account 178 " Debts related to joint ventures ". The non-managing partners record their share in these assets by debiting account 268 " Receivables from joint ventures " and crediting account 458. The use of fixed assets as a result of operating activities carried out in a joint venture is reflected in accounts 178 and 268 by a reduction of the respective rights and obligations of the managing partner and the non-managing partners by the same amount:

    • account 178 is then debited by the credit of account 458 in the managing partner's accounts,

    • account 268 is credited by debiting account 458 in the non-managing partners' accounts.

    When the joint venture accounting is kept exclusively by a managing partner, the share of the profit or loss of the other partners is recorded in the managing partner's accounting by debiting account 655 " Share of profit or loss from joint ventures " with the credit of account 458, in the case of a profit, or by crediting account 755 " Share of profit or loss from joint ventures " with the debit of account 458, in the case of a loss.

    At the same time, the share of profit or loss of each non-managing partner is recorded in their accounting books in accounts 755 or 655 by debiting or crediting account 458.

  2. E.I.G.

    Account 458 records transactions within E.I.G. other than acquisitions or subscriptions of shares and unrealizable advances, which are recorded in accounts 266 " Other types of equity interests " and 267 " Receivables from equity interests " respectively.

    Contributions paid to an E.I.G. for services provided to the entity are considered as operating expenses and are debited to the relevant subcontracting accounts by crediting a subdivision of account 458. If they are paid in the form of subscriptions or provisions, an accrual is made at the end of the financial year in account 468 " Sundry accrued expenses and accrued income " or 486 " Prepaid expenses ".


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