Know what changed in your cap table.
A spreadsheet shows the latest numbers and nothing else. Version history shows every change behind those numbers, who it affected, and when it happened, for founders and for the CFOs, advisors, and accountants working alongside them.
Version history
v41 currentA spreadsheet only shows the last save.
Every new tab, every overwritten cell, and every emailed copy erases the version that came before it. When someone asks what changed since the last round, the answer usually depends on whoever still has the old file.
A recorded transaction history keeps every change in place instead of overwriting it.
Transactions, versions, and exports are not the same record.
Keeping them distinct is what makes the history useful instead of confusing.
Transactions
A single recorded event: an issuance, a transfer, a grant, or a conversion. Each one is logged on its own.
Version snapshots
The state of the whole cap table at a point in time, built from the transactions recorded up to that point.
Exports
A copy of a version pulled out for sharing, such as a document handed to an investor or an advisor.
See what changed, who it affected, and when.
Each version lists the transactions that produced it, a plain-language summary of the change, and the ownership context it affected. Founders review their own history; advisors review the same history across every client they support.
- ✓ Every version linked back to the transactions that built it
- ✓ Change summaries in plain language, not raw ledger entries
- ✓ Ownership context shown alongside each change
Version history — Acme Corp LLC
v41 currentThe same history, across every client.
When a client asks what changed since the last time you looked, the version history has the answer without a call to the founder. Review is separate from writing to the ledger, so nothing changes until the client commits it.
More on the cap table.
Know what changed in your cap table.
Every transaction recorded, every version kept, reviewable by you and by the advisors you work with.