Capital accounts issue

Maybe I misunderstood the capital accounts here or something i did was wrong but the issue is being
we have a new business created and added few names in capital accounts later we allotted share value by raising a receipt to the company by adding money from cash account to capital account then categorising them in to individual name of capital accounts and then as funds contributed. So finally the created receipt reflected as amounts of individual share capitals, which was good but later after few transactions like inter account transfers and bank transfers we found the capital accounts show 0 balances which we didn’t understand. Can u plz help


receipt raised to transfer funds to capital accounts

screenshot of total receipts and payments made after capital accounts funds allocation

screenshot of total inter account transfers made after capital accounts funds allocation.

disappeared values in capital accounts showing zero balances after the transactions

What date have you set for your starting date?

thank u for the reply i have set the following date in the summary if thats what u mean

I was referring to the start date in settings > starting balances.

Wow man that’s really brilliant !!!got the numbers back but again one of the individuals capital balances show 0
I

now i adjusted the starting balances to the date i needed as you advised. Appreciate the response and solution but still need your help thank you in advance

@napster, I really cannot tell if you are doing things incorrectly or only describing them incorrectly. Following through your initial post:

  • In general, you do not add money to a business from a cash account. You would receive money into the cash account.
  • You do not allocate allocate share value to the capital accounts by adding money from a cash account to a capital account. You would receive money in the cash account, posted to the capital accounts and the Funds contributed subaccounts for each member.
  • You received money in a USD cash account, but apparently entered the amount in UGX. You cannot do that. A USD cash account can only transact in USD.
  • The reduction in capital account balances cannot be understood without looking at Edit screens for all transactions involved. Drill down on the blue balances in the Capital Accounts tab to see those transactions. Post a screen shot of a typical transaction. It is very doubtful you should have posted anything to a capital account, because you do not show any payments to members. If you are posting operating transactions to capital accounts, that is incorrect.
  • Unless you are transferring the accounting records of this business from a previous accounting system to Manager, you should not have a start date set at all. Your records seem to begin with initial contributions of capital, so that Start Date should probably be blank. See https://www.manager.io/guides/9783.
  • Likewise, unless there was a previous accounting system, you should not be using starting balances. See https://www.manager.io/guides/15718. If there was a previous accounting system, you most likely should not have entered the capital accounts receipts. The only reason to do so would be that members happened to make additional contributions of capital at the same time you migrated the accounting records.
  • Finally, are you really conducting all these transactions from a cash account, in physical bills or coins? Or is your USD cash account really a bank account. If it is a bank account, convert it. See https://www.manager.io/guides/11727.
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Thanks for the reply Mr.Tut. But the thing here is the USD cash Ac is not a bank Ac and it is labelled so for better understanding and the currency denominations is UGX only. Well like you said " You do not allocate allocate share value to the capital accounts by adding money from a cash account to a capital account. You would receive money in the cash account, posted to the capital accounts and the Funds contributed sub accounts for each member." how am i suppose to enter the capital invested in a company or how can i record the share capital of each director in the manager. PLEASE GUIDE ME. thank you in advance.

Read the Guide: https://www.manager.io/guides/14397.

i did the same thing

I agree with Tut that it is difficult to tell if items have been entered correctly. It looks like it may be all correct but that does not explain why one of the capital accounts is still showing zero. Do as Tut suggested and drill down on capital balances to see the transactions for each shareholder. If you are unable to resolve then post screenshots for further assistance.