For example, there may have been a transfer of trade from one group company to another on a particular date.
As from that date, customers may have been invoiced by the transferee, employees may have been paid by the transferee, and accounting entries may have been made to reflect the purchase price payable for the assets.
Checks are printed by using the remit-to address that is specified for each vendor.
If a remit-to address is not specified, the vendor’s primary address is used.
The document should be dated when it is actually signed, but it can refer to the historic effective date of the transaction.
The transaction should be ratified by minutes or resolutions of the participating entities.
In his role as a consultant, he was retained to examine the books of several firms after they went under, including Howrey and Heller Ehrman.
There are some cases where this approach is not possible.
For example, a reduction of share capital using the UK solvency statement procedure only takes effect in law when it is actually registered with Companies House.
by Ami A reader asks about back dating transactions in Quick Books.
Hi Jennifer, I am not a trained accountant and am a little worried about using Quick Books. But perhaps the tax returns have not been filed yet; if so then this works in our favor.