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Samilou67


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Opening balances, confused
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Hi all, a company started trading in September 2011 and the accounts were run to end of March 2012. The Accountant has said to start them again from April 2012 and go forward from that point. However their assistant is asking me for a brought forward balance which it doesn't have as the financial year is set at Sept 2011 - Aug 2012 on Sage so I am not sure what to do and don't want to appear completely useless.

Can anyone explain what I need to do?

Thanks

Sam

 

ps - is it just me or does taking on accounts that go back a year or two cause more aggro than they are worth?

 

 

 



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Sam
FoxAccountancyServices


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The accountant should provide you with the opening balances at 1.4.2012. It sound like you need to start with a fresh company, with a year that runs in line with the accounting period.

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FoxAccountancyServices


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Hi, just transferred from mobile to laptop to answer this in a bit more detail...

Firstly whose is the assistant? What is their involvement in this?

Secondly, have any postings been made to sage since 01.04.2012?

Are they VAT registered? If so what is the quarter end?





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