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 :
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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 ;
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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 ;
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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 ;
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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 ;
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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 ;
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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 :
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Account 11 « Retained earnings (debit or credit balance) » ;
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Account 106 « Reserves » for reserves whose distribution is not prohibited.
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 :
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JOINT VENTURES
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Account 458 records investments between joint participants.
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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 :
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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.
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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.
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GIE
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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.
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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 ».
