Go to Edit | Share Register | Select the relevant Share Type and click View. Click into the Authorised Number field and amend to required value. Once complete, click Save. Company Secretarial will prompt whether to Log or Don't Log the change. Enter the Effective date of change and Date of resolution and click Log to generate a Form 123 - Notice of increase of Share Capital. Click Don't Log if the form is not required.
When the share details are bridged to use the new share register it will allocate shares to an unspecified shareholder if all issued shares have not previously been allocated to directors. In order to allocate these shares to the correct individuals, go to Edit | Share Register, select the Transaction tab, highlight the transaction and click View. Click Delete at the bottom of the screen, then confirm the deletion. The transaction needs to be re-entered now. In the Transactions tab, go to New | Opening Balance and then select the correct person and enter the appropriate details.
When entering shares as part of a share issue within the Take-up of share issue screen or using the Transactions screen a member can be selected by clicking Add and selecting from the list of Directors/Secretaries, Existing Member, IRIS Client or Other shareholder.
There are several ways of specifying if a member is holding shares individually or jointly but the clearest method is to select Add | Existing Member.
If the Member:
is not listed, click New to add them to the list and then Select them.
exists but as an individual and the shares you are entering are actually held jointly with someone else, click New to setup the joint membership. The Member will appear on the list twice, once as an individual and once as a joint member. Highlight the joint member and click Select.
exists but as a joint member and the shares you are entering are actually held individually, click New to add the individual to the list of members. The Member will appear on the list twice, once as an individual and once as a joint member. Highlight the individual member and click Select.
Go to Edit | Share Register | Events tab, click New and select Purchase own shares.
The New share buy back screen opens, with the identifier and business name at the top of the screen. Complete the relevant fields as per the purchase of own shares.
Following this there is an option to log this information in the client history and therefore activate a completed Form SH03/SH06 (CA1985 - 169 and Form 173) (only if the Out of capital field is selected). Once this screen has been fully filled out click Insert to save the changes or Cancel to close without saving.
This will then open the Shares sold back to company screen displays, where the individuals who are selling their shares back to the company need to be identified. Fill in the relevant fields for who is selling shares back to the company.
Once all shares have been allocated back to the company, click Close to save the information and complete the share buy back.
To enter in a new share split, go to Edit | Share Register, select the Events tab and click New | Share split. This will bring up the New Share Split window, with the identifier and business name confirmed at the top of the screen.
The new share split screen should read as follows Every number of shares that are shares of type, held on a particular date will be split into new shares as itemised below (on that date). At the bottom of the screen insert the number of shares created by the share split.
Also, complete the date of resolution to split the shares and the amount of any cash consideration per original share if applicable. For Original share type discontinued after split, tick the box if true.
Finally there is an option to log share split in client's history and therefore activate a completed SH02 (CA1985 Form 122).
When finished inputting information, click Insert to save the changes or Cancel to close without saving.
Specifying shareholders
Once Insert is clicked, the following question displays, Do you wish to make all implied share transactions now?
Click Yes then a Transaction generated screen confirms the transactions generated by IRIS. Click OK and it returns to the Share split screen. In order to view exactly what has been allocated click List.
Click No then the following question appears. Confirm that you wish to generate any transactions not yet made,
Click Yes then a Transaction generated screen confirms the transactions generated by IRIS. Click OK and it returns to the Share split screen,
Click No and the program returns to the Share split screen without having allocated any shares.
To enter in a new share consolidation, go to Edit | Share Register, select the Events tab, click New | Share consolidation. This will bring up the New Share Consolidation screen, with the identifier and business name confirmed at the top of the screen.
All the share types created against the company are listed on the left and right-hand side of the screen. If a new share type is needed, click Add type and enter the relevant details.
Share qualifying for consolidation. Enter the number of shares that are being consolidated against each share type that this event is related to. The Disc. column is to identify if the share type is discontinued once consolidated. Enter the number of New shares that are being generated by the consolidation against the relevant share type. There is also the option to enter an amount of cash that may be paid for each consolidating unit. Enter the date that the consolidation took place and the date that the resolution was passed.
Finally there is an option to log share consolidation on client's history and therefore activate a completed SH02 (CA1985 - Form 122). When finished inputting information, click Insert to save the changes or Cancel to close without saving.
Specifying shareholders
Once Insert is clicked the following question displays, Do you wish to make all implied share transactions now?
Click Yes then a Transaction generated screen confirms the transactions generated by IRIS. Click OK and it returns to the Consolidation screen. In order to view exactly what has been allocated click List.
Click No then the following question appears. Confirm that you wish to generate any transactions not yet made,
Click Yes then a Transaction generated screen confirms the transactions generated by IRIS. Click OK and it returns to the Consolidation screen,
Click No and the program returns to the Consolidation screen without having allocated any shares.
To post a transfer go to Edit | Share Register then select Transfers and click New. This will open up the Stock Transfer window. Complete the share type for the transfer by selecting the drop down menu listing all the types of share capital set for this client. Enter in the Payable per share for this share type. The date will need to be entered for when the transfer took place, also the Number of shares will need to be entered. IRIS will automatically enter the Total payable amount from the amount payable and number of shares.
The From field will be greyed out. Select the correct member from whom the shares are being transferred from, click on the Choose option. This will bring up the Existing Shareholders in Business window, list the current members of the business, highlight and Select the correct member.
For the To field, the shareholder who is receiving the transfer of shares needs to be selected; click Existing. This will give a list of current members who can be chosen as the receiving shareholder. If they have been setup as joint shareholder then the Held Jointly option will be selected. If the receiving shareholder is not a client on the system, then Other Shareholder can be chosen. Select the Other Shareholder option then click the Magnifying glass. The window People (and businesses) who are not clients displays a list of non clients in the company. Select the shareholder or click New to enter a new non-client.
The Total Paid, Date Paid and Paid ref. (optional) fields need to be filled in as appropriate. In the Total Paid field, IRIS can enter the total payable by pressing F2. Log to client's history option will be selected, creating a Stock Transfer Form for this client. If this is not required, deselect this option.
Once the transfer is complete, click Insert. This will bring up the Confirm share numbers to be disposed of screen. This screen will allow the share numbers to be viewed or amended which are being transferred. To accept the numbers that IRIS has allocated, click System Choice. To change the share numbers, click into the field to be changed and type in the correct number(s). Once all changes have been made, click Accept to apply the changes, or Revert to put the numbers back the original numbers chosen by the system.
This will then put the transfer through. To run the Stock Transfer Form go to Reports | Company Forms, highlight the Stock Transfer Form and click Print Form.
Go to Edit | Share Register | View | Show Numbers, select the shareholder requiring changes to the share numbers or certificate number and click Adjust. Click into the Share Numbers / Certificate Number field and change the details. Click OK to save the changes.
This is down to the Highest Share Certificate Number. Go to Edit | Share Register, at the very bottom of this screen select Status. There is a field in here identifying the highest share certificate number that has been issued. Amend the current number to the last correct share certificate number that was issued, and the next certificate generated will go to the next number.
Go to Edit | Share Register, at the very bottom of this screen select Status. There is a Data is good for accounts option that can be ticked with the selection of a year end. If the client has been bridged to use the new share register there will be a tick in this box with the most recent year entered in the year end field. This tells Accounts Production to ignore the old data screen information and to use the new share register details.
If back dated information is entered into the Share Register and the data screens are to be ignored for those previous years when generating reports in Accounts Production then click Choose Y/E and select the year end that the new information goes back to.