Transaction - VC Investment

Accounting
1

Hello - I am trying to prepare the accounts for my UK LLP which is set up to make investments in venture capital funds.

In order to prepare the balance sheet, I wanted to add ‘Purchases’ or ‘transcations’ to designate the initial capital contibutions to the LLP and the subsequent invesment (we only have 1 so far).

Under the purchases menu, I only see an option for Stock [Asset] or Capital Expenditure [Asset]… neither of which seem to be correct options for what need to essentially come out as Long Term (non current) Assets on the Balance Sheet.

Does anyone have advice on a better Category to choose?

Thank you!

2

Hello @armensg

You can add you own nominal codes to the chart of account.

https://support.quickfile.co.uk/t/adding-a-new-nominal-account/8882

3

Thanks @QFSteve - I managed to create a new category under Assets & Liablities, but I dont seen an option to make sure this appears under Fixed Assets (rather than current assets). Any advice appreciated.

cheers

4

Hello @armensg

The code you create would determine what category it is assigned to based on the ranges in the screenshot below

image

5

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