How many people have fiscal years which are different than a calendar year, and what dates are they?
Maf. King
maf at chilwell.net
Fri Mar 24 14:36:25 EDT 2017
On Friday, 24 March 2017 17:26:10 GMT Chris Serella wrote:
> > I use Mar 31 as my year end wherever possible, and try to avoid
> > transactions during the first few days of April!
>
> Very new to accounts so this puzzled me. Once the date is altered what
> is it that makes you want to avoid transactions for the first few days
> of a new accounts year? Im also in the uk and am considering doing that
> change.
Hi Chris,
I suspect that most of my reasoning behind avoiding transactions is mostly
tin-foil-hat based.
I don't mean that I avoid transactions at all costs, just that I try and get
things a bit ahead at the end of the financial year, so while I' normally do a
payment run on a friday, for example, in a year where April 1st or 2nd is on a
friday, I'll do the run on 30/31st. I also feel that for things like pensions
or employee payments (where their reporting date may well be 5th April), just
avoiding that overlap period avoids any _possible_ complications - not that
there should be any!
Having a year end aligned with (any) month end makes sense to me, April 5th is
IMHO daft, and I'd change it if I were Chancellor! (especially as VAT quarters
run to calendar month-end)
getting OT, so probably best to keep any reply to this off the list
0.02
Maf
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