What account do I code business start up costs to? Plus the cost of the actual purchase of the business? I use Reckon Accounts Plus 2015

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What account do I code business start up costs to? Plus the cost of the actual purchase of the business? I use  Reckon Accounts Plus 2015
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Roxi

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Posted 4 years ago

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Tim Spillman

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That's a question for your accountant, to many unknown variables to get a correct answer here.
(Edited)
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Michael Macleod

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it is a question of what you are buying. If you have bought inventory then you would need to enter the starting balances and cost and to credit your loan account with the value of the inventory. The same applies for any purchae iof fixed assets. The balance of the purchase price shall need to be deternined by your accountant as to how it should be treated