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 for the deposit.
A default may be displayed if it has been set in Document Settings or on the Customer record. This default may be overwritten.
To set a default, if it has not already been done, navigate to Document Settings under the Control menu. This will set a general default across all Customers.
Control - Document Settings - select Default Customer Receipts Account
If necessary a Customer specific default can be set on the Customer Record
Accounts - Customers - Click Open in the Action Menu - Commercial Details Tab - Amend the Request Remittance To field
The memo field can be used to enter free format descriptive text.