Recording paid-up share capital

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  • Updated 2 months ago
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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)
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ben

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Posted 2 months ago

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ben

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I tried posting the $100 to the Opening Balance Equity account, or should it be Equity?

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Tanya Briggs, Accredited Partner

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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".


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ben

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Thanks, Tanya.