How do I record the initial share capital?

I am in the process of looking for an accountant. But I am currently just starting off with QuickFile for a new company, and I need a little bit of help paying for the inital shares (100 @ £1) and loaning the company money. Can anybody help me to do this?

All you need to do is transfer £100 to company bank account from your personal account and record in QF. Loan to company works the same way.

Entry for share capital
Dr Bank
Cr Share capital

for loan

Bank
Director a/c

1 Like

Are you able to provide me with a journal screenshot at all? Im pretty new to all this, I’m sure it will come with time :smile:

here is screen short, hope it helps

4 Likes

Thats great! Thanks!

This topic was automatically closed after 7 days. New replies are no longer allowed.