Balance Share Allocations

Balance Share Allocations


0:00 No historic data for shareholders

2:50 Historic data for shareholders

This article explains why shareholdings in a company's share transactions tab appear as "Balance" rather than being recorded as an issue of shares.

When importing a company the share register recorded at the Companies Office at the time of import will automatically be created in the company profile. However, it is not possible for Connectworks to ascertain when the shares were issued, or details of any share transactions which may have preceded the present-day balance.

It is important to note that the imported share register does not constitute a compliant share register. Users must record all transactions for the preceding 10-year period in order to create a share register that is compliant with section 87 of the Companies Act 1993.

All shareholdings imported to Connectworks which have not been updated will display as "Balance for (shareholder name/s)" until the issue of shares has been confirmed by the user.

Update a balance check to a confirmed share issue

To do this:

1. Navigate to Shareholders>Share Register>Transactions tab.

2. Select the "Convert to Issue" button which appears to the right of a transaction displaying "Balance for (shareholder name/s)" when hovered over.

For multiple allocations, select the transactions to update, click on the 3 dots and 'convert to issue'.


3. After confirming, the balance check will automatically be updated to a share issue recorded from the date of incorporation.


If the incorporation date is not the correct date the shares were issued then the user must edit the share issue and enter the correct date. If this is not updated future reports generated from Connectworks, such as shareholder continuity tracking, will not provide accurate information.