How Do I Account For Unpaid Shares

Accounting
1

I have puchased a LTD Company which is Limited By Shares. In the paper work that came with the Company Registration Certificate is says there are 100 Shares at £1.00 each.

I have not paid my LTD company for ANY of these shares so as I understand it they are called ‘Unpaid’ shares. 100 Shares at £1.00 each is a total of £100.00.

Now my question is how I enter this information into quickfile?

Correct me if I am wrong but after reading elsewhere on the internet it is a Debt to the company and not a Directors Loan.

Can someone please explain what steps I need to do in Quckfile to enter this information please.

I am a Sole Director with only myself as a employee.

Many Thanks

2

Entry will be

Dr 1102 Other Debtors

Cr 3000 Ordinary Shares

2 Likes
3

Thanks for the reply.

You say what the entries will be, but where do I enter these entries?

Which screen?

Many Thanks

4

You can enter it at Reports > Journals