Recording paid-up share capital

ben_2966506
ben_2966506 Member Posts: 3 Novice Member Novice Member
edited October 2024 in Reckon One
I started my company with 100 shares, and I deposited $100 into the company bank account to buy these 100 shares.

How do I record this in Reckon One? (AU)

Comments

  • ben_2966506
    ben_2966506 Member Posts: 3 Novice Member Novice Member
    edited August 2018
    I tried posting the $100 to the Opening Balance Equity account, or should it be Equity?

  • Tanya Briggs
    Tanya Briggs Accredited Partner Posts: 68 Accredited Partner Accredited Partner
    edited August 2018
    the proceeds of a share issue would usually be shown as a credit in the Equity area of the Chart of Accounts, in an account called something like "100 Issued shares @ $1".


  • ben_2966506
    ben_2966506 Member Posts: 3 Novice Member Novice Member
    edited August 2018
    Thanks, Tanya.
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