The video provides the following guide to using the Share Register & Franking Account -
- Creating a class of shares and authorised share capital with a face value on each share
- Issuing shares from the authorised capital to the members
- Transferring shares to another member
- Disposing of shares (capital reduction
- Understanding how adding members in the share register updates the relationships module
- Setting up the franking account
- Adding a balance to the franking account
- Adding a transaction in the franking account
- Paying franked and unfranked dividends
- Understanding how notating the company as SBE changes the rate of franking to equate to either 30% tax rate or 27.5% tax rate
Watch the video below:
Other Share Register Article HERE
In this article:
Set up Shares for Shareholders
Illustration 1. Bread Co Pty Ltd has 3 Shareholders with 200 shares for each for $1.
Authorized # | 100,000 | ||||
Number Issued | 600 | ||||
# of Shares | Certificate # | Serial/Series | |||
Shareholders | Anna Doe | 200 | 1 | 1 | 200 |
John Doe | 200 | 2 | 201 | 400 | |
Sean Doe | 200 | 3 | 401 | 600 |
Navigate to Tools > Share Register
Select Classes
Fill the information
Note, set as large as possible the "Authorized Number"
Once "Classes" has been set-up, navigate to "Issued Capital"
Since the shareholders has total of 600 shares, we will issue 600 from the 100000 Authorized Number
Then, we can now "Assign" the shares
"Anna Doe" illustration for the assign shares
Summary table for the "Shareholders" Shares.
Anna Doe's shares of 200 will transfer to Marie Smith for $2/share
Via "Register" tab and select the Ana Doe
Result after the transfer, Anna Doe has 0 and Marie has the 200, with "Total Paid" of $400 ($2/ea)
Issue "New" Shares
"Zach Smith" as additional shareholder with 300 shares for $3/each