One of your entities gave or sold part of a position to another.
In Rhodes: Investments → any investment → Transfers
A transfer moves a stake between two of your entities — a gift into a trust, a sale between family branches. Record it here rather than editing both sides of the cap table by hand, so the two halves can't disagree.
You supply: the giving entity, the receiving entity, whether it's a gift, a sale or other, how much moved, the date, and optionally fair market value, cost basis and notes.
Read the percentage field carefully — this is the easy mistake. "Ownership transferred" is in percentage points of the whole investment, not a share of the giver's position.
Giving away a quarter of a 1.959% position is 0.48975, not 25. Convert before you type: the giver's stake × the share you're moving ÷ 100.
Once recorded, Rhodes updates the investment's ownership, shown under Allocations: the giver's capital percentage drops by those points, the receiver gains them, and profit share and committed capital move pro-rata.
The giving entity has to be an active investor with a stake already recorded. If its position was never recorded, Rhodes stops and asks rather than guessing a number to subtract from.
To undo a transfer, click Void on its row, then Void transfer (admins and owners only). Voiding returns both entities to their stakes before the transfer. If a later transfer on the same investment involves either entity, void that one first.