Hi,
I am a sole trader and am busy transferring my hand written accounts to quick file but have the following issues.
I commenced my business on June 1st 2014 but have start up expenses I used a business loan for from January 2014. About 30% of these are what i would calculate as running costs for example cleaning fluids etc which i didnt start using until I commenced trading. Reading other posts I thought i would add up the total cost of these and then input as capital introduced on 01/06/14 then itemise all capital and running cost and stock spent which would balance to zero. would this be the correct way of doing this
Thanks in advance
Dave