First, find the 'Company Summary' for which a note conversion will be recorded. Scroll down and find the 'Round Detail' section and press 'New Round Detail'.
Creating a New Round Detail
You will first be prompted to select the correct round type. In this example we will be selecting 'Convertible Security'. Once the proper round type is selected, press 'Continue'.
Fill in the following details for the Round:
- Type of Round (Series A, SAFE, etc.)
- Date
Press 'Save' to finish entering the round in the database.
Now that we have the round recorded, press the 'Convert to Equity' button above the 'Round Detail' section.
Convert to Equity Button
Enter the information required to convert the note:
- Date of conversion
- The fund that is making the investment
- The equity round
- Interest amount
- Number of Shares
With this information filled in, the cost should be showing correctly (including the capitalized interest).
The next step is recording the new price and adjusting the unrealized gain and valuation numbers. Navigate back to the 'Company Summary' related to this investment and select the newly entered 'Round'. On this page you can edit the valuation by putting in the current price per share.