- You will receive this error when the Share Capital entered in the Compliance Database does not match the amount entered in the Nominal Ledger.
- In this case, Compliance Database has a total of 100, and the Nominal Ledger has an amount of 10,000.
- 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).
- In this example, you can see that the total share capital is 10,000.
- Now you should check the figures in the Compliance Database > Client Details> Share Capital Details.
- In this example, you can see that there is 1 Share Class Ordinary Share Class 1 which currently has 100 shares issued.
- Click the dropdown next to this share class and select open.
- Here, you can view and edit the details of this Share class.
- If you click the magnifying glass next to Share Class, you can check the nominal value of these shares
- From here, you can edit the details of an existing Share Class, or Add a new Share Class.
- In this example, the nominal value of each share in the existing share class = 1 Euro.
- After confirming these details, click Save on the following screen.
- In this example, add additional shares issues in the Compliance Database to match the amount of 10,000 in the nominal ledger.
- Click Save to confirm these changes.
- 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.
- 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).
- 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.
- Key in the desired value, in this case -10000.
- 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.
- Click Back to save these changes.
- 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.
- Note: Refresh pages to be sure you are viewing the accounts with most up-to-date data.