Seed money and Ordinary Shares

Accounting
1

Hello

My company has just been incorporated yesterday :sweat_smile:
I am very new to this all and just want to keep track of outgoing and incoming the best I can until I talk to an account for some help.

So I have sent £100 to my business bank account to pay for the 100 Ordinary Shares at £1 each.
I have also sent £100 for seed money as a loan to the company to get it going.

I have the auto bank feed, so the two transactions have shown up as two untagged transactions.
£100 loan + £100 shares payment = £200

How would I account for this?

Thank you in advance.
Mikey

2

£100 loan is tagged as directors loan account. £100 shares would be tagged to a share capital nominal.

1 Like
3

I have tagged

£100 shares payment to Ordinary Shares (3000)
and
£100 loan to Director’s Loan Account (1201)

4

Thanks @Paul_Courtier - I was also looking for this solution.

1 Like
5

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