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Post Info TOPIC: How to add shares for LTD company in QuickBooks
SGD79


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How to add shares for LTD company in QuickBooks
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Hi.

I have my Dormant LTD company, and I have setup my QuickBooks. 

I would like to know how I add/issue my standard £1.00 share certificate value into QuickBooks.

I thought I would simply add a £1.00 transaction to my Director Share or Equity account, however, where would the other side of the transaction go, as I can't actually credit my bank account as the LTD company does not have one yet.

Also, I am slightly confused as when you set up a LTD company, it issued a single share certificate for the value of £1.00 that I "own", does this mean that I have to have a £1.00 ready to put into the business account once opened?

Thank you for any help people.

Regards,

Steve



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Shamus


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Hi Steve,

The two sides of the equation are share capital and creditors.

You are the creditor.

the transaction doesn't go anywhere near the bank.

I'm no expert on Quickbooks, the above is just the double entry which you need to get into the software.

kind regards,

Shaun.

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
SGD79


Member

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Posts: 12
Date:
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Hi,

thank you for the response.

So would I credit the Share Capital Account and Debit the Directors Loan Account, or Debit the Creditors Account, or set up a Creditor account in my name and debit that?

 

Thank you again,

Steve



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