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Thread: Where to begin pastel processing

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    Where to begin pastel processing

    Morning all

    I need some help here. I want to start bookkeeping processing on pastel. The company was opened in 2012 according to the CK documents but only opened a bank account at the end of 2013. From 2012 to end of 2013 the director was using his own personal account. He submitted his personal ITR12 for 2013 and 2014 including the business income and expenses. Should I start processing on pastel from 2012 using his personal bank statements and credit his loan account or should I just start when the business account was opened? I hope I'm making sense.

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    Diamond Member Mike C's Avatar
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    It will be interesting to hear what others recommend, but I would think (unless there is a reason that you need to see specific allocations before that) that you start when the business account was opened.
    People will forget what you said, people will forget what you did, but people will never forget how you made them feel. - Maya Angelou

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by Privilege View Post
    From 2012 to end of 2013 the director was using his own personal account. He submitted his personal ITR12 for 2013 and 2014 including the business income and expenses.
    That sounds like he was treating the business operations as a sole proprietorship for that period from a taxation point of view.

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    Thank you Mike and Dave. Your help is much appreciated.

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