on which date I should pass entry in books of acc of various transactions incurred before opening of business??
someone pls explain...
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date for entering pre opening transactions in tally
Replies (10)
On 1st april or 1st day of business as per registrar under pre incorporation expenses head
and what about the bank loan taken or fixed assets purchased??
| Originally posted by : priyatambika | ||
 |
and what about the bank loan taken or fixed assets purchased?? |  |
Same as above
mam I mean to say on which date i will enter these transactions in books of acc..
like bank loan taken before OpenING of business or fixed assets purchased before opening of business...
please do clarify I will really be thankful to you...
like bank loan taken before OpenING of business or fixed assets purchased before opening of business...
please do clarify I will really be thankful to you...
The day on which buiness started as per registration with registrar.
When did business start?
Date?
mam..it is a private dental clinic..not a co.. date of opening of clinic 29.11.2017... loan taken and fixed asset purchased before this date... now i need to know in tally how do i show these transactions as ?
Since you have started up a business all entries will be on 29.11.2017 specifying in narration exact date of purchase of assets and loan taken
Because your Financial year will be from 29.11.2017 to 31.03.2018
thank you so much mam
will i show these assets and liabilities as opening balance???
as per the companies act, pre-incorporation expenditure is to be recognised as on the date SGM. so accounting entries also recordable as on the date of SGM. i.e. post incorporation date
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