I have opened up a new set of accounts for a brand new company but I am struggling with how to bring in the initial deposits into the account.
The initial deposit was made in the middle of January but their financial year only starts 01/03/2013.
How do I manage this? Do I bring those entries prior to 01/03/2013 into prior year?
My other question is this initial deposit was made by a director.
There are 2 directors and each have a 50% share.
Do I allocate these deposits that they make for the business to loan accounts?
Your help will be greatly appreciated.