Transfer previous loses to current year

Accounting
1

Hi,

Last year I had loses 192 Pounds, the current year I have profit, I can’t find how can I transfer the loses in the current year

Thanks in advance

2

May just be me, but are you able to clarify what you are trying to do please?

If you had a loss in your previous year, and a profit in your current year, that’s the way it is.

However, I’m not an accountant

3

As I understand it your previous year’s loss shouldn’t affect this year’s figures in your accounts, but you can offset one against the other on your tax return when you’re working out your tax liability for this year.

But I’m not an accountant, I’d recommend asking your accountant or posting somewhere like accountingweb.

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4

You don’t really transfer your losses over to the next year, all you need to do is run the year-end tool and QuickFile will journal the net figure on the P&L, over to the balance sheet as retained earnings or losses.

5

Hi dear all I thank for your advices

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