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Post Info TOPIC: Stock and invoicing at year end
kay


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Stock and invoicing at year end
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Hi there

if i have received goods in Dec 09 but havent manage to invoice in the month that i received the goods , so in other words i will have to invoice in January. Do i accrue for this sale so cr sales and dr accruals? Then in January would i post the sales in the accruals account to contra it?

Thank you in advance for your help!

Kay 

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ADAS


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Hi Kay.

If the goods where delivered to a customer in Dec 09 then yes you accrue as stated, otherwise the goods would be part of Decembers closing stock.

Hth.

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Tony

Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
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MichelHerbert


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Hi Kay.

If the goods where delivered to a customer in Dec 09 then yes you accrue as stated, otherwise it will be closed at year end.


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kay


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Thank you for your replies

Kay

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