---
author: "Cake"
published: 2026-04-28T05:59:21.795Z
updated: 2026-09-07T00:32:30.559Z
---

# Share Certificate Types: Holdings vs Transactional

Understand the two certificate types in Cake — holdings certificates and transactional certificates — and how to choose between them.

Cake supports two certificate types to suit different record-keeping needs: holdings certificates and transactional certificates. Choose the type that fits your requirements before issuing.

## Holdings certificates (default)

Holdings certificates combine all of a shareholder's holdings into a single certificate per share class, regardless of when the shares were acquired. This gives a clean consolidated view of total ownership.

**Best for:** Most companies. Simpler to manage, easier for shareholders to understand.

To issue holdings certificates:

1. Go to **Settings** and check that your share certificate type is set to **Holdings share certificate by class**.

2. Go to **Cap Table** and select the **Outstanding shares** tab.

3. Click the issue share certificate icon next to the relevant shareholder.

## Transactional certificates

Transactional certificates create a separate document for each individual share issuance. One transaction = one certificate.

**Best for:** When you need transaction-level documentation or have specific legal requirements.

To issue transactional certificates:

1. Go to **Settings** and set your share certificate type to **Transactional share certificate**.

2. Go to **Cap Table → Transaction logs**.

3. Click the issue share certificate icon next to the specific transaction.

## Updating existing certificates

When you issue new shares to an existing holder (holdings mode):

1. Go to **Documents → All documents** and locate the existing certificate in the **Share Certificates** folder.

2. Delete the old certificate or simply remove the link for that document to the shareholder via the **Share** option in the dropdown menu. The latter ensures you keep a copy of the old certificate for record-keeping purposes.

3. Issue a new certificate reflecting the updated total holding.

4. Notify the shareholder of the new certificate.

## Related articles

* [How to Issue Share Certificates](https://help.cakeequity.com/article/how-to-issue-share-certificates)
* [Set Up Your Share Certificate Template](https://help.cakeequity.com/article/set-up-your-share-certificate-template)
* [Attach Previously Issued Share Certificates](https://help.cakeequity.com/article/attach-previously-issued-share-certificates)