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Accounting & Disclosure Error: Share Capital

Sohini Chakraborty
  • Updated
  1. You will receive this error when the Share Capital entered in the Compliance Database does not match the amount entered in the Nominal Ledger.AP6Snip1.png
  2. In this case, Compliance Database has a total of 100, and the Nominal Ledger has an amount of 10,000.AP6Snip2.pngAP6Snip3.png
  3. First, you will need to check your postings in the Nominal Ledger> Chart of Accounts under the heading Share Capital (Nominal Accounts 951-961.04).
  4. In this example, you can see that the total share capital is 10,000.AP6Snip4.png
  5. Now you should check the figures in the Compliance Database > Client Details> Share Capital Details.AP6Snip5.png
  6. In this example, you can see that there is 1 Share Class Ordinary Share Class 1 which currently has 100 shares issued.AP6Snip6.png
  7. Click the dropdown next to this share class and select open.AP6Snip7.png
  8. Here, you can view and edit the details of this Share class.AP6Snip8.png
  9. If you click the magnifying glass next to Share Class, you can check the nominal value of these shares
  10. From here, you can edit the details of an existing Share Class, or Add a new Share Class.AP6Snip9.png
  11. In this example, the nominal value of each share in the existing share class = 1 Euro.AP6Snip10.png
  12. After confirming these details, click Save on the following screen.AP6Snip11.png
  13. In this example, add additional shares issues in the Compliance Database to match the amount of 10,000 in the nominal ledger.AP6Snip12.png
  14. Click Save to confirm these changes.AP6Snip13.png
  15. When refreshing the accounts, you will see that the error has changed, as the Current Year Figures are matching in both the Compliance Database and the Nominal Ledger 10,000=10,000.AP6Snip14.png
  16. Note, you may also need to update this balance for the comparative year in the Nominal Ledger to match the comparative values in the Compliance Database (Chart of Accounts> View> Comparative).AP6Snip15.png
  17. Locate the comparative Nominal balance(s) which need to be updated. In this example, the nominal code that needs to be updated is 951.02.Ap6Snip16.png
  18. Key in the desired value, in this case -10000.AP6Snip17.png
  19. Debit this 10,000 into a different nominal account to make the TB balance, in this example we will use Balance Sheet Suspense Nominal 999.AP6Snip18.png
  20. Click Back to save these changes.AP6Snip19.png
  21. Now, when Producing the Accounts, this accounting and disclosure error will be resolved as the Share Capital has been reconciled in the Nominal Ledger and the Compliance Database.
  22. Note: Refresh pages to be sure you are viewing the accounts with most up-to-date data.AP6Snip20.png
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