Question:
im constructing a profit/loss account which is a forecast for the next 12 months, as i have not started the business yet. I have a template that im working from, but it says opening stock and closing stock, and as my business is providing a service (deliveries), i dont have any stock. I've already done a cash flow forecast, so can i use the opening and closing BALANCE figures instead of opening and closing STOCK?? any help welcome, needed urgently! thank you
Answer:
If your business does not carry stock, then the amount to use is $0! Yes you dont have stock. The amount in cashflow is CASH! Not stock.
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