Capital to Enter

[bjt]

I am using Sage Line 50 2007. I have a sum of money to enter into my firm's current account. It is not a loan or investment and it is not residing in another of my accounts.

How do I enter that and what N/C to use please?

On some of the other postings I have seen Capital Introduced mentioned which seems as though it might fit the bill but how is that entered and is there a N/C for it or should I create one?


Thanks
John

[brucedenney]

It depends on what the sum is. You say what it is not but not what it is.

Is this a purchase of shares in a limited liability company (This is how capital might be introduced)?

A donation from a mysterious benefactor to a registered charity?

You have to give a little more information

[JohnJ]

I'm in a similar position.

As a sole trader I want to introduce £2500 of my money into the business bank account but I'm at a loss as to how to do it.

It's easy enough to Dr Bank, but how do I Cr? I can't see that Sage has a Capital nominal account set up. Should I set one up - and what category of NC should I use? Using the Wizard the only categories I can see are: Sales, Purchases, Direct Expenses, and Overheads.

Many thanks in anticipation.

John

[JohnJ]

..Ah, just spotted that I can create a Share Capital Account which defaults to NC3001. Would it be in order for me to use this and to re-name it as Capital Introduced?

Many thanks once again - and for offering such a superb facility!

John

[brucedenney]

That sounds fine, 3000 to 3019 are typically used for Share Capital, I assume that this is what you are doing only this is not a limited liability business.

If it is a loan, than this would NOT be appropriate

[JohnJ]

Thanks very much for your prompt advice Bruce.

Best regards,

John