Yes, items purchased for the business prior to start of trading are considered brought into the company on the first day of trading.
Does the client still have the original invoice?
Was the transaction performed at arms length? If related parties were involved in the transaction then matters get more complex as the amount paid for the equipment in the original transaction could be brought into question. Be careful that you're not being conned into recording the equipment for more than was actually paid for it in the first place!
Providing that you have all of the evidence available that this was an arms length purchase of equipment to be used wholly and exclusively for use in the business then putting the equipment costs into the Opening Balances for capital and fixed assets is correct.
Kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
