When a company is created or initially selected for use in Company Secretarial, details need to be entered into the Share Register in order for the Register of Members and Accounts Production reports to be kept up to date. To access the Share Register for the first time, go to Edit | Share Register, a screen displays asking for confirmation to run the bridge.
There are 3 options:
Yes - will start the bridging process, using information from Accounts Production (see below). Information will only be bridged using entries from the most recent accounting period entered onto the database.
No - will allow access to the Share Register without any details entered. All information will have to be entered manually.
Abandon - will exit the screen
and return to the main Company Secretarial screen without accessing the
Share Register at all.
Select Yes, confirmation is asked on whether to run the bridge. Click Yes again. The screen will identify how many Share Types, Dividends, Events, Transactions with directors and Other transactions have been generated.
Transfers will not be bridged from details entered into Accounts Production. This will need to be manually entered into the Share Register through the Transfers tab.
Click Close to see this information in further detail. See Chapter 4 – Share Register of the Company Secretarial Manual for further details on using the Share Register.
The following information will be bridged from Accounts Production into
the Share register:
Share
Types - are created from information in Edit
| Data screens | Company information | Share Capital | Share Capital 1
/ 2 / 3. The necessary information is obtained from the first five
fields on each of these screens. Therefore the maximum number of share
types that can be generated is 3.
If information has not been entered into all of these fields, IRIS will make assumptions. For example, if there is no Nominal Value, IRIS will assume this to be £1.
Share Type information entered in the Share Register will show within the Share Capital note in the Annual Accounts.
Dividends
- are created from information in Edit
| Data screens | Report of the Directors | Dividends | Interim and Final
Dividends / Multiple Interim Dividends. The dividend will be created
using the date entered within the data screens.
Dividend information entered in the Share Register will be displayed in the Dividends section of the Report of the Directors.
Share
Events - are created from information in Edit
| Data screens | Company information | Share Capital | Share Capital 1
/ 2 / 3. The necessary information is gathered from the number
issued during the year field. The events that will be created are Share
Issues (at par or premium) and Bonus Issues as per the tick boxes in the
data screens.
Share Issues and Bonus Issues will be displayed within the Share Capital note in the Annual Accounts.
Transactions
- are created using the issued amount of share capital in Edit
| Data screens | Company information | Share Capital | Share Capital 1
/ 2 / 3 and the details entered in Edit
| Shareholdings. The Directors Shareholdings are entered
into the Transactions tab in the
Share Register against the relevant director. If the issued amount of
share capital is more than the directors allocation of shares, then the
remainder amount is allocated to Unspecified Shareholder. Transactions
to unspecified directors will have to be deleted and allocated to the
correct person/business.
Transactions for Directors will be displayed in the Directors section of the Report of the Directors.
See the Help | Help | Frequently Asked Questions or more details.