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    kctal1 Posts: 1, Reputation: 1
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    Feb 9, 2012, 07:37 PM
    Deposit in which accounting period
    Situation and question: have very small start up company selling software apps for smart phones. Literally started with only $1000.00 out of home. Set up as LLCwith my brother: 50/50 members. To avoid bank fees on debit card we swipe it once a month for small purchase like Starbucks: then I deposit the money back in. I run these in and out of a wash acct on GL. Got sick and didn't make a few deposits in FY11 until feb FY12. I'm inputting data into bookkeeping software. Is it OK to back date those deposits in GL in order to show actual financial balances as they should be for FY11? (even though the bank statement would show those deposits in feb?). It's like these small amounts of 8 and $10 were here and belonged to the company, just not deposited in the actual bank account. It all balances either way.

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