Details
If shares in a company are partly paid, the shareholder must pay calls on the shares in line with the terms the shares were issued on. When a shareholder pays a call, record it in CAS 360 so the Register of Shareholders shows the new amount paid.
A change to the amount paid doesn't change the number of shares, so it isn't lodged with the Companies Office.
To record a call on partly paid shares, you need to:
- record the issue of the partly paid shares; and
- record the change to the amount paid and prepare the documents.
Navigation
| From the Main Toolbar, go to Company. | |
| Select the Company from the list. | |
| Select Shareholders. |
Click Add Transaction +
Step 1. Record the issue of the partly paid shares
Select Issue.
CAS 360 will display the Issue screen.
1. Share details
| Field | Explanation |
|---|---|
| Transaction Date | Enter the date the shares were issued. |
| Shareholder |
Begin typing the new shareholder's name. CAS 360 will search the Global Contacts screen for the person. If the contact hasn't been added to the Global Contacts screen, + Add New will display. Click + Add New |
| Beneficial Owner | If the shares are held on behalf of someone else, type the beneficial owner's name. CAS 360 will search the Global Contacts screen, and you can click + Add New to add a new contact. See Beneficial Owners for more information. |
| Share Type |
Begin typing the name of the share type to be issued. CAS 360 will search for share types already added. If the share type hasn't been created, + Add New will display. Click + Add New To create a partly paid share, enter an amount in the Amount Unpaid field. This shows there's an amount outstanding on the shares. |
| Special Rights | Enter any special privileges or conditions attached to the shares. |
| Premium Paid | Enter the premium paid, if the shares are issued at a price higher than their value. |
| Premium Unpaid | Enter any premium still unpaid on the shares. |
| Number Of Shares | Enter the number of shares issued. |
| Consideration Type | Select the consideration given to acquire the shares. |
| Meeting Status | Select the shareholder's meeting status to show on the resolutions: Attendee, Chairperson, Apology or Non-Attendee. |
| Notes | Enter any extra notes to show on the Register of Shareholders. |
2. Certificate details
| Field | Explanation |
|---|---|
| Certificate Type | Select Transaction, Balance or None. |
| Certificate Number | Enter the share certificate number. |
| Certificate Location | Enter where the certificate is kept. |
| Unique Numbers | Enter a unique number to assign to the shares. |
Click Save
The transaction will be listed on the Shareholders screen. In the Fully Paid column, hover over the information icon to see the amounts paid and unpaid:
Forms Prepared
CAS 360 will display the Document Production screen and automatically select the documents required. See Issuing/Allotting Shares for the list of documents prepared for a share issue.
Step 2. Record the change to the amount paid
From the Shareholders screen, click Add Transaction + and select Change to Amount Paid.
CAS 360 will display the Change to Amount Paid screen.
| Field | Explanation |
|---|---|
| Transaction Date | Enter the date of the call on shares. |
| Shareholder | Select the shareholder from the list of the company's current shareholders. |
| Beneficial Owner | CAS 360 fills this in automatically if the shares have a beneficial owner. |
| Share Type | Select the share type. CAS 360 lists only the shares with an amount outstanding. |
| Number of Shares | Enter the number of shares the call was paid on. |
| New Amount Paid Per Share | Enter the new amount paid per share. It must be between the original amount paid per share and the total value per share. |
| Meeting Status | Select the shareholder's meeting status to show on the resolutions. |
| Notes | Enter any extra notes to show on the Register of Shareholders. |
Click Save
Forms Prepared
CAS 360 will display the Document Production screen and automatically select the documents required:
- Company Change Summary
- Register of Shareholders
- Directors Minutes or Resolution
- Share Certificate
The Cover Letter, Issued Journal, Notice of Shareholders Meeting, Shareholders Minutes or Resolution and Shareholders Consent are also listed. Switch any of them to YES if you need them.
Once the documents have been downloaded or sent to clients, the change will appear under Global Documents. This change isn't lodged with the Companies Office.