start up of new business

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sassyduell
sassyduell Registered Posts: 33 Regular contributor ⭐
in General accounting discussion
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?

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  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    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.
  • sassyduell
    sassyduell Registered Posts: 33 Regular contributor ⭐
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    Thank you very much for that

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