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Items purchased before start up date

  • 8 posts
  • # 73921

Hello there,

I'm wondering if anyone can help me please. I'm just about to start working for a brand new company. They take over my current place of work on 1st September. However I know that my boss-to-be has made some purchases already so the invoice/ petty cash receipts will be dated before this date. How will I enter this into the accounts so that it falls in to year end aug 2012?

Many thanks

  • 1159 posts
  • # 73928

My understanding is that pre trading expenses should be entered as if they happened on the first day of trading.

Hope this helps.

Kris  

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