The following tutorials will guide you through how to create share capital on a company, as well as creating share issues and managing the call schedule.
Creating New Share Capital:
Managing Share Issues and Calls:
If you have created your shares and want to find out more about setting up the members, see here.
In the event you require further assistance with maintaining your share registers in WealthWorks+, please refer to the WealthWorks+ 4.3.0 New Features article.
Tutorial Transcript
Creating New Share Capital
To add a new Share Capital to a company, select the entity, the Shares tab and then Share Capital. Click the Add Item button and enter the details for the new shares. More information about each field is provided by hovering the cursor over the Information icon to the right of the box. Select the share class from the drop-down list, or add a new class by clicking the Add icon. The Share Precision field defined the decimal place for the number of shares authorised. The Monetary Precision field defines the decimal place for the case and kind being paid. Authorised shares is the number of shares in the class. Nominal is the par or face value of the shares. For Nil Par Value shares the nominal should be set as zero. If you check the 'Paid in Full' option this will automatically create a Share issue and call for you. Once completed, click Save.
(01:02) Existing share capital can be edited by selecting the Actions button and then Edit. Editing is restricted if shares have been issued. Share capital can only be deleted if it has not been used, or all transactions related to the share class have been deleted first. If you checked the paid in full option you can now manage the issues or call that were automatically created or immediately allot the shares to a member.
Managing Share Issues and Calls
To create a Share Issue click the Actions button for the relevant share capital and select Create New Issue. The Description and Date are prefilled but can be edited as required. Then enter the number of shares. The Share Issues records the Cash Paid per share and Paid in Kind per share. If the amounts paid per share vary for each allotment they will require additional share issues with different amounts paid per issue.
(00:42) Once a share issue has been created you can manage it by selecting Manage Share Issues from the Actions button. From here you can add further share issues using the Add button. You can also edit the share issue and manage the call schedule by selecting Edit Share Issue from the Actions button.
(01:03) To add a call schedule click the Add button in the call schedule section. Complete the details and click Save.
(01:13) You can edit or delete the calls in the call schedule using the options from the Actions button.
(01:21) For Fully Paid share allotments record the call amount as the total paid per share and this will be apportioned by the ratio of cash to kind payments entered into the share issue. The Call Status will display Fully Paid (if the call is fully met), Partly Paid (if there are calls but the nominal is only partially reached), Nil Paid (if there are calls but the nominal is currently zero). and Unpaid (if there are no calls). If the shares are No Par Value shares (the nominal value is zero) then all calls will display as Nil Paid.
This tutorial is confirmed to be applicable from WealthWorks+ release 4.3.