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Post Info TOPIC: Financial year: Sage instant
Sophie Ryan


Newbie

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Date:
Financial year: Sage instant
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Hi

Wonder if you can help me?

I have just passed my Level 2 exams with the IAB and am looking to take control of my husbands business by doing our own books. The company was incorporated in March 2012 but we are now in our 3rd year of trading as of April 2014 onwards. What would I put as the FY in Sage? The date it's incorporated? 

Also if I'm starting the books from now in Sage do I enter all the history or can I start from now? I know how to use Sage in the "classroom" but need more "real life" experience with it?? We are due to submit our paperwork for our VAT return for the last quarter to our accountant - if I want to practise doing it myself do I enter data from April 2014 as the O/B for bank etc And then enter all transactions from April-June?

 

many thanks

sophie 



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Sharon Eyre


Senior Member

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Posts: 423
Date:
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You need to get the opening balances from the last set of accounts and use April 14 as your year start date then you can start entering all your transactions from April

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Regards

Sharon
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