Create a Partnership
Creating a partnership is a two-part exercise: you fill in the header (name and dates) and you build the holdings table (the partners and their ownership shares). Every new partnership starts life as a Draft, so you can take your time getting the structure right before making it live.
Before you start
Make sure the partners you intend to add already exist in the Partners master and are Active. An Inactive partner cannot be placed in an active holding row — you will be asked to activate the partner first.
Step 1 — Open the create form
- Go to Partnerships from the main navigation.
- Select New Partnership (or Add Partnership).
The create form opens with an empty header and an empty holdings grid.
Step 2 — Fill in the header
| Field | Required | Notes |
|---|---|---|
| Partnership Name | Yes | 2–255 characters. Must be unique within your organization. |
| Effective From | Yes | The date the partnership takes effect (DD/MM/YYYY). |
| Effective To | No | An optional end date. If supplied, it must be on or after Effective From. |
| Notes | No | Free text, up to 500 characters. |
You do not enter a partnership code. The system generates one automatically (for example PS-001, PS-002) once you save, and shows it on the details screen.
Step 3 — Build the holdings table
Add one row per partner. For each row you provide:
| Field | Required | Notes |
|---|---|---|
| Partner | Yes | Picked from the Partners master. A partner can appear only once. |
| Holding % | Yes | Greater than 0 and up to 100, with two decimal places. |
| Holding Fraction | No | An optional readable fraction such as 1/3 or 2/5. |
| Managing Partner | — | Tick this for the partner who manages the entity. Exactly one row must be ticked. |
| Investment Amount | No | The capital this partner contributed. |
| Joining / Exit Date | No | When the partner joined or left. |
As you type, the form shows a live running total of the active holding percentages so you can see at a glance whether you have reached 100%.
The holdings rule
When you save active holdings (and again when you activate), the system enforces:
Holdings must sum to exactly 100%, and exactly one managing partner is required.
Specifically:
- The active rows must total exactly 100.00% — no more, no less.
- Exactly one managing partner is required — no more, no less — and that partner must be one of the active holdings.
- No partner may appear twice.
- An inactive row cannot be the managing partner.
If any rule fails, the form highlights the offending rows and shows a precise message (for example, "Active holding percentages must total 100.00%. Current total: 99.99%."). The system never silently rebalances your figures — you fix them.
See Validation Rules for the complete list.
Step 4 — Save the draft
Select Save. The partnership is created with status Draft, the code is generated, and you are taken to the details screen. At this point the ownership structure is recorded but the partnership is not yet live.
Step 5 — Activate the partnership
When you are satisfied the holdings are correct, change the status from Draft to Active (see Manage a Partnership for the status controls). Activation re-validates the 100% total and the managing-partner requirement. If the holdings are not valid at that moment, activation is blocked and the partnership stays in Draft until you fix it.
The create-to-activate path
What gets recorded
Creating a partnership writes an entry to the audit trail capturing the new header and holdings. Blocked attempts (for example, an invalid date range or holdings that do not total 100%) are also recorded, so there is a clear history of what was tried. See Audit & Logs for how to review these.
Next steps
- Manage a Partnership — edit holdings (with a reason), change status, or delete.