Maintain your records
Record SAFEs and convertible notes
Enter SAFE and note balances, caps, discounts, interest, maturity, and conversion records in Cap Table.
On this page
Choose the instrument and holder
Use Issue security and select SAFE or Note. Choose the actual investor, enter the agreement date and principal, and attach the signed instrument after saving. A principal is a monetary balance, not a number of shares.
Use separate records for separate instruments when they have distinct terms or dates. The current ownership table lists outstanding convertibles separately until they become shares.
Set the cap and discount
Enter the valuation cap, or leave it blank for an uncapped instrument. Enter discount as a whole percentage, such as 20 for a 20% discount. For a SAFE, select the actual pre-money or post-money cap type.
The round model compares the applicable cap and discount conversion prices. These fields do not encode every side letter, most-favored-nation election, pro-rata right, or custom financing definition. Retain those terms in the agreement and reconcile the model before closing.
Record note interest and maturity
For a note, enter the annual simple-interest percentage and maturity date. Compare the resulting balance at the intended modeling date with the note calculation in your records. The app uses simple interest, so a compounding instrument needs separate review.
When a note is overdue, use its Needs attention action to record an agreed extension or that the maturity date was dealt with. Marking maturity as resolved does not itself remove the outstanding instrument, stop all modeled consequences, repay cash, or convert the note.
Review the linked conversion
Use a funding-round model to inspect conversion shares, then the close workflow to apply the reviewed financing. The resulting certificate is linked to its source instrument, and the source is marked converted.
After conversion, terms that determined the certificate’s size are constrained by that relationship. Review the whole transaction if the records need correction. Creating an unrelated share certificate and leaving the SAFE active would not represent a completed conversion.