It does, and hence the issue. Thanks.

IraS1@aol.com wrote:
> Unless your club has more than $600K of assets, you do not need to complete
> the balance sheet portion of the 1065 form. See the text accompanying question 5
> of Schedule B.
>  
> Ira Smilovitz
>  
>
> In a message dated 03/24/08 5:50:01 P.M. Eastern Daylight Time,
> moriaritydean@bivio.com writes:
> Great
> idea for recording the transfer and, of course, great
> motto.
>
> The
> reason for wanting a "real" liability account rather
> than cobbling one
> together is that otherwise the balance
> sheet is all screwed up (since the
> liability is contra to
> club assets, recording it makes it appear as a
> negative cash
> account).  This is not so important for internal
> club
> accounting purposes, but it will make using the tax
> reporting form
> more cumbersome (as we will have to manually
> change the balance sheet
> information).
>
>
>
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