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Unpaid share capital - how to describe as debtor?
I have been told by my accountant to 'account' for unpaid share capital in our first year by creating a journal entry to explain that the unpaid shae capital is a debtor.
How can I do this in FAC?
Thanks
How can I do this in FAC?
Thanks
I’m confused
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Inappropriate?Only an accountant could confuse when trying to help!
I would do it this way:
Debit Director's loan account
Credit Capital account
with the amount of share capital issued to directors.
If any shareholders are not directors you should debit trade debtors instead of directors loan account.
I’m hoping this helps& despairing of accountants.
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1 person says
this answers the question
