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March 13, 2023
Question

My clients claim that the number of shares that are allocated to the owners are not correct and want to enter the correct amount. How do I do that?

  • March 13, 2023
  • 1 reply
  • 0 views
I don't have the information about the original transaction.

1 reply

MJoy_D
March 13, 2023

 I can help you with adding the correct amount of shares, @Lwhitty.

 

You'll just have to set up the owner or partner as a vendor and an equity account to track their investment. Once done, record a deposit into the equity account. 

 

Here's how to set up an owner or partner as a vendor:

 

  1. Go to Get paid & pay and select Vendors. 
  2. Click on New vendor.
  3. Provide all the information needed.
  4. Click on Save

 

Once done, set up the equity account from the Chart of accounts if you don't have one yet:

 

  1. Go to the Gear icon (), then select Chart of accounts.
  2. Click on New.
  3. From the Account Type dropdown, click on Equity.
  4. From the Detail Type dropdown, choose Owner's Equity or Partner's Equity depending on your situation.
  5. Select Save and Close.

 

From here, you can now record a deposit into your equity account by adding a deposit:

 

  1. Go to the + New button and select Bank deposit.
  2. From the Account dropdown menu, select the bank account you're depositing the money.
  3. In the Add funds to this deposit section, enter the name of the owner in the Received from ield.
  4. Select the equity account you've created from the dropdown list in the Account field.
  5. Enter the correct investment amount in the Amount field.
  6. Click on Save and close once you're done. 

 

Check out this article for more information about recording capital investments to track money going into your business: Record an owner's contribution or capital investment in your business.

 

To enter the capital disbursement, here's how you can record paying back investment with a check and debit or credit card. 

 

Let me know if you need further help to add the correct amount of shares to your account. I'm always here to help. Have a great rest of the day!