Perform vs Record Recent vs Record Historic in Kudocs
What is the difference between Perform and Record in Kudocs? The Perform route will take you through all the necessary steps to make a specific change to company information – covering all the legal and administrative steps. The Record route is for when the legal steps have been completed off system (e.g. director approval given at a board meeting), but the administrative steps still need to be done (e.g. update company records, notify Companies House, generate documents, etc)
What does it mean to “Perform” an action in Kudocs? Using this route, Kudocs will help you complete all the necessary steps for a particular action in real time.
Kudocs has been designed by lawyers, so we know all the steps that need to be taken for this process to be complete. This usually consists of 3 parts:
(i) consents and legal approval (e.g. when appointing a new director, getting the new director to consent and then the company to approve the appointment)
(ii) update company records and Kudocs account (e.g. when appointing a director, adding the director to the register of officers and adding information to that stakeholder’s profile in Kudocs)
(iii) other administrative outputs, including filing documents at Companies House, generating share certificates, etc. (e.g. When appointing a director, filling the appointment at Companies House).
Using the Perform route saves you having to understand and make sure you follow all the correct rules and processes (or getting a professional advisor to do it for you). Kudocs does that all for you!
What does it mean to “Record” a “Recent” action in Kudocs? Use this route to make recent (ie since the last confirmation statement) changes to company information. This route is for when the legal/ consent steps of the action have already been completed (e.g. the directors have passed a resolution authorising the change), and you just need to complete the administrative outputs.
Kudocs has been designed by lawyers, so we know all the steps that need to be taken for this process to be complete. This usually consists of 2 parts:
(i) update company records and Kudocs account (e.g. when issuing new shares, adding the shares/ shareholder to the register of members and adding shareholder information to the stakeholder profiles in Kudocs)
(ii) other administrative outputs, including filing documents at Companies House, generating share certificates, etc. (e.g. when issuing shares, filling the new share capital at Companies House & generating new share certificates (including signatures and distribution to shareholders)).
What is the difference between Record Recent and Record Historic in Kudocs? The Record Recent route allows a company to complete consents/ approvals away from Kudocs, but then use Kudocs to do all the administrative leg work to update the current company information.
The Record Historic route is for a company to add past information to the company’s Kudocs account. Adding historic information will not change current information. e.g:
- add details of a director who was appointed and resigned in the past – the director is not added to the current board, they time of service is simply added as a historic fact.
- add details of a share issue that happened in the past (i.e. before the last confirmation statement). This does not update the current shareholding balance for that shareholder, it is just added as a historic fact.
If you would like more information about this, please contact Kudocs.