[GNC] Can I add to Equity?

[Dr. David Kirkby]

On Fri, 2 Dec 2022 at 17:52, Stan Brown <the_stan_brown at fastmail.fm> wrote:

>
> On 2022-12-02 07:21, Michael or Penny Novack wrote:
>
> > So my GUESS is you are asking us, what should be the other side of the
> > transaction that enters this amount? << again, this is not really a
> > gnucash question since would be the same question no matter how the
> > books were kept >>
> >
> > Personally, I'd probably use Imbalance as the most logical. After all,
> > you are in effect telling us that by convention, books for a business
> > entity in the UK start out out of balance by 1.
>
> With respect, I think that's a dangerous suggestion.
>

I think that the safest thing is for me to actually ignore this £1. After
all, I pay an accountant to submit the appropriate paperwork to HMRC and
Companies House.
He should be able to take care of that. There’s only one singe share, and
it’s value is small.

I do not think that if my company was inspected, any inspector would be
quizzing me about a £1 share.  They would know it is standard practice to
start a small company with a single £1 share.

Dave
-- 
Dr. David Kirkby,
Kirkby Microwave Ltd,
drkirkby at kirkbymicrowave.co.uk
https://www.kirkbymicrowave.co.uk/
Telephone 01621-680100./ +44 1621 680100

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