[GNC] Can I add to Equity?

[Maf. King]

On Friday, 2 December 2022 13:46:38 GMT Dr. David Kirkby wrote:
> with the intention of adding the £1 share there as an opening balance. But
> it is not possible to edit the opening balance of that account.
> 
> I assume it's me, as the director, that owns that £1 share. I guess, since
> it's only a very small amount, I can ignore it, but it would be nice to
> know where it should go.

You can't alter the "opening balance" in GC per se, but you can put an opening 
transaction in.

My ltd company's books show a transfer for the share capital (£10 in my case, 
for 10 shares issued and *actually* paid)

debit Bank Account and Credit Equity:Shares    I imagine you could have an  
Assets:UnpaidShareCapital account to hold the nominal £1, if you have not 
actually paid it to the company's account.

and just a very small technical point, You own the share as a shareholder, not 
as a director.  legally they are 2 very distinct "hats to wear"...

IANAA and so on.
Maf.