Shareholders & Directors

Addsworth Accounting keeps a register of the shareholders and directors of a corporation. T2 Schedule 50 reports its shareholders.

Who is this for?

Corporate bookkeepers and accountants who need to track shareholders and directors for T2 reporting.

Where to Find Shareholders

Open Tax Centre in the sidebar. In the corporate section, open Shareholders. The row shows for a corporation only. The list shows each record with its name, type, identifying number and percentages.

Add and change shareholders on a Mac or an iPad. An iPhone reads the list.

Adding a Shareholder or Director

1. Tap Add Shareholder in the toolbar.
2. In the Shareholder section, enter:
   • Name (required): the legal name.
   • Type: Individual Shareholder, Corporate Shareholder / Parent Company, Partnership Shareholder, Trust Shareholder, or Director.
   • Identifying Number: one number only. Schedule 50 reports a business number, a social insurance number or a trust number, and NR for a non-resident who has none.
3. In the Share Percentages section, enter the percentage of Common and of Preferred shares. Use a value from 0 to 100 with two decimal places or fewer. Leave a field empty when the shareholder holds none of that class.
4. Tap Save.

A warning shows when the percentages of one class add up to more than 100 across the shareholders.

Recording a Change of Holding

A holding can change during the life of the corporation. Record each change in the Holding Changes section of the shareholder record:

1. Tap Add Change. The new change starts today and repeats the current percentages.
2. Under From, choose the date the new holding starts.
3. Enter the Common and Preferred percentages that hold from that date.
4. Tap Save.

The percentages in Share Percentages apply before the first change. Schedule 50 reports the holding in effect at the tax year-end. Tap the minus button on a change to remove it. Give each change its own date. Save is refused when two changes have the same date. The warning for more than 100 percent also shows for the date of a change.

Editing a Record

Tap a row in the list to change the record.

What's Next

• Setting Up Your Chart of Accounts: Assign GIFI codes.
• T2 Schedule 50 (Shareholder Information): Report the shareholders of a private corporation.
• Getting Started with Addsworth Accounting: Return to the overview for the full accounting workflow.