income & expenses prior first financial statements

[NotAllThere]

I suggest asking an accountant or an accounting forum. This isn't even related to contracting as far as I can see. Locked.

[sociopath]

As with everything its always good to get advice from a second source, just to err on the safe side, maybe from your accountant

[northernladuk]

How do I treat expenses and income earned/incurred a couple of months ago i.e. July,August,September-These transactions were never entered into the accounting system.

Do they have to be ignored because of the accrual/matching principle?

Absolutely correct I'd say.

[northernladuk]

Have you asked NLUK?

Lol. Nearly there....

[sociopath]

Have you asked NLUK?

[Joojo]

I want to enter transactions for a service provider(A SOLE PROPRIETORSHIP) business for the month of October,in order that we can generate our first set of reports(financial statements) for the month of October 2015.

How do I treat expenses and income earned/incurred a couple of months ago i.e. July,August,September-These transactions were never entered into the accounting system.

Do they have to be ignored because of the accrual/matching principle?

The expenses are on sundry materials and cleaning agents etc. i.e. nothing CAPEX(Capital Expenditure)