First year accounts longer than 12 months.. Help!
Posted: 01 May 2020, 16:27
Hi all,
I'm just finishing my accounts to file, but my accounting year starts 20th December 2018, but ends 31st December 2019.
The financial year in Sage is set January 2019 to December 2019.
The business didn't trade/make any transactions until March 2019, so there are no transactions in the period that falls out of the year set in Sage (December 2018).
Am I right in thinking that when running off the P&L & BS, I just select 'brought forward' rather than January 2019? So as to show that balances prior to January are included?
Any help would be very much appreciated! Thanks
I'm just finishing my accounts to file, but my accounting year starts 20th December 2018, but ends 31st December 2019.
The financial year in Sage is set January 2019 to December 2019.
The business didn't trade/make any transactions until March 2019, so there are no transactions in the period that falls out of the year set in Sage (December 2018).
Am I right in thinking that when running off the P&L & BS, I just select 'brought forward' rather than January 2019? So as to show that balances prior to January are included?
Any help would be very much appreciated! Thanks