Forum Discussion

Kingy's avatar
Kingy
Contributing Cover User
3 years ago

Accounting for business sale

I have recently sold my business and the money has been deposited into my business account. Our Lawyer has taken his cost out of sale price and deposited remaining to us.  I was wondering how or wher...
  • Tracey_H's avatar
    Tracey_H
    3 years ago

    Hi Kingy 

     

    Thanks for your post. As we're not accountants we're not permitted to advise on which accounts to allocate the sale amount and lawyer costs to. I'd recommend speaking to your accountant to check the accounts and tax codes for that transaction.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Tracey_H's avatar
Tracey_H
Former Staff
3 years ago

Hi Kingy 

 

Thanks for your post. As we're not accountants we're not permitted to advise on which accounts to allocate the sale amount and lawyer costs to. I'd recommend speaking to your accountant to check the accounts and tax codes for that transaction.

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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