MyEntities is a comprehensive platform for managing business entities, tracking profit sharing, and simplifying financial management for organizations of all sizes. Our platform features automatic transaction splitting and professional-grade double-entry accounting to ensure accuracy and transparency in all your financial records.

MyEntities allows you to set up profit sharing rules for each entity member. When transactions are recorded, the system automatically calculates splits based on these rules, ensuring accurate and transparent profit distribution.

Yes! MyEntities includes a robust invitation system that allows you to invite team members to your entities with personalized emails. You can set their account names, profit sharing percentages, and more.

Absolutely. MyEntities uses enterprise-grade security measures to protect your sensitive financial data. We employ encryption, secure authentication, and role-based access controls to ensure your data remains safe.

Yes, we offer a free tier that allows you to create 1 entity with 1 member. You can also try our paid plans with a 14-day free trial. No credit card required.

When you set up an entity in MyEntities, you can define profit share percentages for each member. Then, whenever a transaction is recorded, our system automatically creates the appropriate entries for each member based on their ownership percentage. This means that a single $1,000 income transaction for an entity with two 50/50 partners will automatically create two $500 entries, one for each partner. This eliminates manual calculations and ensures accurate profit distribution.

Double-entry accounting is a method used by professional accountants that ensures every transaction affects at least two accounts, maintaining a perfect balance. For example, when you record income, it increases both your revenue account and your cash account. This system provides several benefits:

• Error detection - the books must always balance, making it easier to catch mistakes
• Complete audit trail for all financial activities
• Accurate financial reporting for tax purposes
• Better insights into your business's financial health

MyEntities handles all this complexity behind the scenes, giving you professional-grade accounting without requiring an accounting degree.

While standard expense trackers like Mint or YNAB focus on personal finances, and accounting software like QuickBooks or Xero are designed for single-entity businesses, MyEntities fills a crucial gap for collaborative ventures and multi-owner businesses:

• vs. Expense Trackers: Unlike basic expense trackers that only categorize spending, MyEntities automatically splits transactions according to ownership percentages and maintains proper accounting records
• vs. Accounting Software: Traditional accounting tools require manual journal entries for profit sharing, while MyEntities handles this automatically with built-in double-entry accounting
• vs. Spreadsheets: Spreadsheet solutions lack the audit trail, automatic calculations, and data integrity that MyEntities provides through its purpose-built platform
• vs. Project Management Tools: While some tools track project expenses, they don't handle the financial accounting and profit distribution that MyEntities specializes in

MyEntities is uniquely designed for businesses where multiple people share ownership and need transparent, accurate financial tracking without the complexity of traditional accounting systems.

MyEntities provides robust capital account tracking for each partner in your business. Our system accurately maintains records of initial capital contributions, ongoing investments, profit allocations, and partner draws. The double-entry accounting system ensures that every transaction affecting a partner's equity stake is properly recorded and balanced. This gives you a clear, auditable record of each partner's current ownership position and financial interest in the partnership.

MyEntities is designed to support a wide range of business partnership structures, including:

• Small Business Partnerships (2-10 Partners): Perfect for small businesses with multiple owners
• Professional Service Firms: Ideal for law firms, accounting practices, consulting groups, and other LLPs
• Real Estate Partnerships: Track property investments, rental income, and expense allocations
• Joint Ventures: Manage project-specific partnerships with transparent accounting
• Co-owned Businesses: Maintain clear financial records for any co-owned enterprise

Our platform is specifically built for business partnerships, not general expense tracking or personal finance, ensuring you get the specialized tools you need.