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Post Info TOPIC: Nominal Ledger and Datafile
Pemshome


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Nominal Ledger and Datafile
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Hi everyone

Firstly I would like to say how grateful I am for this site and how helpful everyone is.

I am covering maternity leave for a Ltd company doing the sales ledger and management accounts.  The companies year end is 31 December and the accounts where audited.  Due to the audit the monthly close down has changed (actually to something I recognise).  Anyway when I ran the P&L for February  from Datafile (shows both Jan and Feb) I noticed that the expense figures in Jan had changed. 

I have discovered that expenses have been posted to the nominal ledger at the date they occurred and not the date the expense was posted and this has changed the P&L for previous periods.

Can someone please put me straight on this, should the expenses be entered on the 1st of the current month?

Many thanks for your help Andrea confuse

 

 

 

 

 



-- Edited by Pemshome on Sunday 17th of April 2011 07:52:47 AM

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