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• # 72415
• Wed 22 Jun 2011 01:00 PM

Hi folks,
 
A client of mine commenced trading on 1 April in her small hotel.  However, some expenses were incurred several weeks prior to her starting up, mainly in the form of room furnishings and some kitchen equipment.  Which is the best way to incorporate these 'early' payments? 

Look forward to hearing from you.

Phil

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• # 72417
• Wed 22 Jun 2011 01:43 PM

Hi Phil,

I believe all of these expenses should be taken as having been incurred on the first day of trading. So if their financial year starts on 1st May for example, you should enter all of the expenses incurred before then on 1st May.

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• # 72418
• Wed 22 Jun 2011 01:47 PM

>
> Hi all

I agree lady m

Cheers Stuart
>
>

• Forum Moderator, South East & Greater London Regional Chairman
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• # 72421
• Wed 22 Jun 2011 02:10 PM

Thanks very much for those replies, what a great tool this forum is!

All the best

Phil

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