Are they for significant amounts, or comparatively small compared with the overall accounts picture?
If they're only small, I wouldn't bother and would instead let them get mopped up in this year's figures (they'll appear on the P&L in the brought forward figures).
If they're significant, since you've already closed the year, I'd be inclined to include a big, prominent note for your accountant so that he can include a late invoices creditor to cover them. And journal the net amounts from the P&L codes they are in to one in the 21xx region, calling it "Late Invoices" or somesuch. That'll show a debit balance at the moment, because you're reversing a creditor that your accountant will raise later. IYSWIM.
-- Edited by VinceH on Tuesday 5th of February 2013 01:14:03 PM
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
Ive just received a couple of invoices that date prior to a year end. I have completed my year end procedures although the Accountant has not collected the file yet to do the books/adjustments.
Ive keyed the invoices on using the date of the invoices - should I also do some kind of adjustment to reflect these were last years - and if so can you please advise what/how? (I use Sage!)
Thanks
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Thank you for such a rapid response Vince. They are only relatively small so I will take the first (and easy option!), but good to know for any others I might get. Chesh
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
