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Format Errors: Share Capital

 

  1. This format occurs when the Share Capital entered in the compliance database does not match the amount entered in the Nominal Ledger.
  2. AP6Snip1.png
  3. In this case, Compliance Database has a total of 100, and the Nominal Ledger has an amount of 10,000.AP6Snip2.pngAP6Snip3.png
  4. First, we will check our postings in the Nominal Ledger> Chart of Accounts under the heading Share Capital (Nominal Accounts 951-961.04).
  5. We can see that the total share capital is 10,000.AP6Snip4.png
  6. Now that this amount in Nominal Ledger is confirmed, we will confirm the figures in
  7. (Compliance Database > Client Details> Share Capital Details).AP6Snip5.png
  8. Here we can see that there is 1 Share Class Ordinary Share Class 1 which currently has 100 shares issued.AP6Snip6.png
  9. Click the dropdown next to this share class and select open.AP6Snip7.png
  10. Here, we can view and edit the details of this Share class.AP6Snip8.png
  11. If you click the magnifying glass next to Share Class, we can check the nominal value of these shares
  12. From here, you can edit the details of an existing Share Class, or Add a new Share Class.AP6Snip9.png
  13. In this case, the nominal Value of each share in our existing share class = 1 Euro.AP6Snip10.png
  14. After confirming these details, click Save on the following screen.AP6Snip11.png
  15. In this case, I will be adding additional shares issues in the Compliance Database to match the amount of 10,000 in the nominal ledger.AP6Snip12.png
  16. Click Save to confirm these changes.AP6Snip13.png
  17. When refreshing the accounts, we can see that the format error has changed, as now the Current Year Figures are matching in both the Compliance Database and the Nominal Ledger 10,000=10,000.AP6Snip14.png
  18. Now, we will update this balance for the comparative year in the Nominal Ledger to match our Compliance Database (Chart of Accounts> View> Comparative).AP6Snip15.png
  19. Locate the comparative Nominal balance(s) which needs to be updated. In this case the only nominal that needs to be updated is 951.02.Ap6Snip16.png
  20. Key in the desired value, in this case -10000.AP6Snip17.png
  21. 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.AP6Snip18.png
  22. Click Back to save these changes.AP6Snip19.png
  23. Now, when Producing the Accounts, this format error will be resolved as the Share Capital has been reconciled in the Nominal Ledger and the Compliance Database
  24. Note: Refresh pages to be sure you are viewing the accounts with most up-to-date data.AP6Snip20.png