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start up of new business

sassyduellsassyduell Feels At HomeRegistered Posts: 33
Hi all
Could anyone tell me if i am doing the books for a new business set up whose start up date is going to be 6/4/2010 but she is going to buy equipment etc for the business in the month running up to that date, how will i record those initial start up cost, should i put it through in the financial year it was bought?

Comments

  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    sassyduell wrote: »
    Hi all
    Could anyone tell me if i am doing the books for a new business set up whose start up date is going to be 6/4/2010 but she is going to buy equipment etc for the business in the month running up to that date, how will i record those initial start up cost, should i put it through in the financial year it was bought?

    Put it in as at the first date of trading, i.e 06/04/2010. It is pre-trading expenditure.
  • sassyduellsassyduell Feels At Home Registered Posts: 33
    Thank you very much for that
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