This transaction is used to issue shares to company members.
The share type list contains all share types associated with the company.
The company member (shareholder) that the shares are to be issued to.
The date of the transaction. Dates can either be entered manually or selected from the pop-up calendar by clicking on the icon. Dates must be entered in the format DD/MM/YYYY, for example, 01/01/2000.
When entering dates manually, a date guessing routine speeds up the input by taking the user input and assuming the missing month and or year based on the current date as the user leaves the field i.e.
the date today is 30th October 2009
- User enters 15 or 15/ and tabs - field displays 15/10/2009
- User enters 15/9 or 15/9/ and tabs - field displays 15/9/2009
Quantity to Issue
The number of shares to be issued to the company member.
Generate Accounting Entries
Liberty Accounts will automatically make the accounting entries as follows: Credit Shareholders Equity with the value of the shares issued i.e. 100 at £1.00 equals £100.00. Debit the selected bank account with cash received. If less than the total value is received, the outstanding is debited to Called up share Capital not paid. If you do not accept the accounting entry, The issue will be registered in the share register but no other entry will be made. You will have to subsequently make the accounting entries manually.
Total Amount Paid
The amount paid will normally be the value given by the number of shares issued multiplied by the nominal value. Enter this figure in the field. If unusually the full amount is not paid, enter the amount actually paid. Liberty Accounts will put the difference into a current asset account as an amount of money still to be received.
The bank account to which any amount should be deposited.
The memo field can be used to enter free format descriptive text.