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Post Info TOPIC: Help with posting of business acquisition in Sage
djpops38


Newbie

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Help with posting of business acquisition in Sage
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Good morning to you all.

I couldn't sleep last night and at 3:00am I decided  to search the internet for some tips on"inter company debtors" eventually I  ended up on this site which I must say is extremely resourceful.

I am a fully qualified AAT member and my role is Finance Manager - working on accounts to TB and producing MA's.

I've recently started a job where the company I work for is acquiring several businesses. 

Some of the companies purchasedare failing companies in liquidation (trade and asset purchase) and others are 100% of the full share capital

My question would be regarding the posting to Sage for these transactions.

Can someone please confirm if I have posted the following correctly?

The schedule relating to the acquisition supplied to me states:

Total consideration £250,000

comprising of:

Goodwill £200k

fixtures and fittings £45k

Motor vehicle £5k

My postings in Sage were:

CR Loan from parent company £250.000

DR Motor Vehicle (Asset) £5,000

CR Fixtures & Fittings (Asset)  £45,000

CR Goodwill (ITA) £200,000

I welcome your help on this as I am not familiar with business acquisitions.

Many thanks

DJP

 

 

 

 

 

 

 

 

 

 



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abacus12345


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Status: Offline
Posts: 1363
Date:
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They don't balance

__________________

Johnny  - Owner of an overly-active keyboard. 

A man who can read, yet doesn't, is in no way wiser than a man who can't.

 
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