I have a client that I've just taken on. He’s been in business for many years, however he's done everything himself manually up to now using a duplex book.
I use Sage and I’m starting his books at 01/01/07. How should I initially setup his books with information from 2006?
It depends on which accounting software you’re going to be using, but the following principle is the same for them all:
-First set up a chart of accounts
-Get his balance sheet for 06 off his accountant (you may have to wait a while until they have finalised the accounts) and then enter the opening balances into the year 2007 Accounts.
Yep. you just stole the crown and its not as if you've not had some stiff competition for that prize this week!
Accountsguy is definitely Steve from when the site was first starting out. Bet it brings back some memories when he see's this one's been dug up.
all the best,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
