Hi, We didn’t have an accounting system in 2014 and need to bring over the profit/loss figure for 2014. What is the easiest way to do this in Bullet? Thanks

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Hi,
We didn’t have an accounting system in 2014 and need to bring over the profit/loss figure for 2014. What is the easiest way to do this in Bullet?
Thanks

1 answer

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Peter Connor ⋅ Staff May 7, 2016
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If you get a trial balance for the end of 2014, you can create a manual journal entry in Bullet to mimic this information.  Note that if you have any invoices/bills in Bullet for 2014, those values should be deducted from the Trial Balance values before entering them into the journal entry.

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  1. clive2 May 7, 2016
    great, thanks John!
  2. clive2 May 7, 2016
    So, just to check... our Trial balance at the end of the year was literally just retained earnings of -432 eu (ie a loss), owner equity of 430 and issued shares of 2 (bank balance was 0, assets were 0 and there were 0 outstanding expenses. If I do a Manual Journal Entry dated 31 12 2014 with a 432 credit of owner equity and 432 debit of retained earnings, will that see us right in Bullet?
  3. Peter Connor May 7, 2016
    You're best off asking your accountant about the specifics Clive. But what you have said there is roughly what I'd expect.
  4. clive2 May 7, 2016
    :) thanks

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