Overview
Simple Invest 360's Shareholders screen gives you the ability to record, view, and manage shareholder details in one centralised, easy-to-use screen.
This article provides instructions on how to add a Shareholder to a company.
When a Shareholder is added, the Simple Invest 360 will automatically create a Dividends Paid, Issued Shares, and a Dividends Payable account.
Navigation
To add a New Member account, navigate to Shareholders, then select Shareholders:
| From the Main Toolbar, go to Shareholders. | |
| Select Shareholders |
- From the Shareholders screen, select
- Select the Shareholder from your previously created Contacts. If the member has been added to the Contacts list in Simple Invest 360, begin inputting their name into the search bar and select their name from the list that appears below.
- Simple Fund 360 will populate a SHAREHOLDER CODE based on the Shareholder's name (which is editable).
Once you have saved the member account, the Shareholder code is no longer editable. - Input the following details of the Shareholder.
Field
Explanation
Date Commenced
Date shares were first issued to the Shareholder
Date Ceased
Date Shareholder no longer hold shares in the entity (optional field)
Click
to add the shareholder.
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To add Shares, select
Field
Explanation
Share Class
Select the type of shares issued.
Number of Shares
Input the number of shares issued. Transaction Date
Input the date shares were issued.
Amount Paid ($)
The amount that has been paid for the shares
Amount Unpaid ($)
The amount outstanding for the shares
Beneficial Owner
A beneficial owner is an individual or party that holds shares indirectly. Whether the shares are owned by the shareholder (Leave the Beneficial owner field blank) or are held by the shareholder on behalf of another party (Select this contact here).
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Click
As part of the year-end period compliance in Simple Invest 360, a dividend paid can now be posted directly into the ledger of the receiving entity.
This means that when a dividend is paid, instead of recording it manually in the receiving entity, the dividend payment can be posted directly to the receiving entity's ledger via the Inter-Entity Journal Tool.
Inter-Enitity Journal Tool is restricted to the specified Investment Accounts below.
| 72400 | Control | Fixed Interest Securities (Australian) |
| 73200 | Control | Interests in Partnerships (Australian) |
| 73300 | Control | Interests in Partnerships (Overseas) |
| 73800 | Control | Leased Assets |
| 73850 | Control | Leased Assets - Unitised |
| 74200 | Control | Loans to Associated Entities (In house loans) |
| 74250 | Control | Loans to Associated Entities (In house loans) - Unitised |
| 76000 | Control | Other Assets |
| 76100 | Control | Other Investments |
| 76500 | Control | Plant and Equipment (at written down value) |
| 77800 | Control | Shares in Unlisted Private Companies (Australian) |
| 77900 | Control | Shares in Unlisted Private Companies (Overseas) |
| 78400 | Control | Units in Unlisted Unit Trusts (Australian) |
| 78500 | Control | Units in Unlisted Unit Trusts (Overseas) |
In order to create an Inter-Entity Journal a Shareholder must be created first.
1. Once a Shareholder is created, select Add Shares
2. From the new screen, please enter the Share Class, Number of shares, and Transaction Date as well as the other information if relevant. After entering the Edit Share Details select Save changes.
3. After the Shares have been successfully added, proceed by selecting No accounts linked, and then choose the preferred Investment account. In order for the Inter-Entity Journal Tool to operate efficiently, it is essential that the Investment account is linked to both the Dividends Received (23900) and Dividends Receivable (62000) accounts. To learn more about how to link accounts, please refer to this article, Linked Accounts.
Please Note
To link the Investment Account across the different entities, the Investment account must be assigned to each of the respective entities with the Chart of Accounts.