Statutory Information, Share Capital reconciliation & Dividend Reconciliations

So there are a few templates that work together to help you reconcile and produce your dividend documentation!

The dividend account template is linked to 2 other templates:

1) Share capital reconciliation

2) Statutory information- Directors, Shareholders and Secretaries

This account template will also feed the Dividend Summary, which in turn feeds the Dividend Board Minutes and Dividend Vouchers documents!

Step 1: Prepare the Share Capital Reconciliation

1) Using the  # functionality, pull in the share capital nominal code to be reconciled.

2) Paid?

This relates to whether or not the shareholder has paid. 

This pulls through to the Note - Called up share capital & reserves (if accounts production is used).

3) Class of share [MANDATORY FIELD]

Fill in the details of the share class.

4) Ordinary/Preference share

Select whether the shares are ordinary/preference shares. If preference, you will need to select the detail of the share in step 6.

5) Currency

The default currency is the currency of the file (see the 'Edit Client' screen for a reminder of what this is). If the currency is changed from the default, the  Note - Called up share capital & reserves will be updated to reflect this.

6) Detail

If ' preference' is selected in step 4, select the detail of the preference share. This will pull through to the Note - Called up share capital & reserves.

7) Additional share details

Details of the dividend % (if preference shares) and authorised number of shares.

The dividend % pulls through to the Note - Called up share capital & reserves.

8) Details required to calculate the share capital value

Enter the number of shares issued and the nominal value per share. This will calculate the total value per share type, as well as sum the values of all share types (i.e. total share capital).

Reconciliation of share issues, repurchases and restructures

In this section you'll need to reconcile the shares issued at the beginning of the period to the shares issued at the end of the period.

Step 2: Prepare the 'Statutory Information' working paper: Directors, secretaries and shareholders

If you have set up your Admin sync, you can use the information from Companies House to help you populate key Director information. Read this article to find out more.

1 - Name of the director/secretary/shareholder

2 - Select the relevant tick box (more than 1 option can be selected)

3 - The dropdown selection here depends on the data entered on the 'Share capital reconciliation' template in the 'Class of share' column

4 - Enter the number of shares that the person holds (this will reconcile back to the 'Share capital reconciliation' template)

5 - Appointment date

6 - Resignation date (if applicable)

Please note if you're copying data over from a previous period, this can be done at a Client level and by following 'Actions '-> Copy template data & select "Copy shareholder, director, and general period data"

The bottom of the statutory information template will pre-populate with details entered above as well as the details entered onto the 'Share capital reconciliation' template to provide:

- A breakdown per share type (i.e. which person/s hold each class of share)

- A reconciliation of the share quantity per share type

Step 3: Complete the dividends reconciliation. This reconciliation is the account template that you assign to the dividend account codes.

1- Date on which the dividends were paid

2 - The dropdown selection here depends on the data entered on the 'Share capital reconciliation' template in the 'Class of share' column

3 - Prepopulated based on the number of issued shares entered on the 'Share capital reconciliation' template

4 - Prepopulated based on 'Dividend amount' divided by the number of shares ( £66,000/1 in the above example)

5 - The value of dividends paid

You have the option to attach any relevant supporting documentation by clicking on the paper clip icon.

Under the 'dividends paid' input table, you will see an automated table which shows the total dividends paid per share type

 What if the dividend has been waived by one/some/all of the recipients?

Don't worry, we cater for that! Above the 'Dividends paid' input table is a tick box which must be selected if dividend waivers are to be taken into account:

When selected, this will add 3 additional columns to the table which shows the total dividends paid per share type:

- Select the tick box pertaining to the individual who elected to waive the dividends;

- Enter the number of shares for which dividends were waived;

- The 'Nbr. of shares (after waiver)' will calculate automatically based on the number of shares the individual owns (per the 'Share capital reconciliation' template) less the 'Nbr. of shares waived'.

Dividend summary

The details entered on the above 3 templates will feed into the 'Dividends summary' template .

This template is especially useful in providing the user with oversight if the company has multiple dividends codes, as it gives the details of the different dividends that made up the total dividends paid during the year.

The only input required on this template is to pull in the relevant dividends nominal code/s using the # functionality.

The details entered on all the above templates will fully automate the details in the Dividend Board Minutes and Dividend Vouchers documents, eliminating the need to manually complete these documents. These can be found in the 'Documents' folder.

If these aren't showing as automatic in your Documents section, simply hit Actions > New Text and you will be able to select.

If you have any questions please be in touch and we would be happy to help out. After all, sharing is caring ;)

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