I have been asked (after the fact) to produce a final set of accounts ending a couple of weeks before the 'normal' year end date of 30th April. Of course, all the accruals/prepayments/stock adjustments as well as a couple of 'oops' general correction journals were all processed at the 30th. I'm sure I know what needs to be done, but every time I sit in front of the PC I realise that there is something that is barring my way to an easy solution.
Is there a prescribed way.....a logical way.....or is it just a case of 'ticking and bashing'??
Sounds not quite right to me ... why? What happened on or around 15th April (apart from me forgetting my wedding anniversary!) that necessitates a special set of accounts covering 11 1/2 months?
Supposing my reservations are unfounded, you'll have to reverse all transactions after the new balance sheet date and strike new balances. And, yes, you will need to recalculate the accruals/prepayments as at that date too. I suggest you make a safety copy of your ledgers as at normal year end before you begin so that, if your present exercise is just to estalish the position at the middle of April (to see if the Company could afford to send my wife and me a present), and normal bookkeeping can be resumed afterwards, you will be able to restore your systems with minimum fuss.
My hubby forgot ours a couple of years ago, I haven't let him forget it!!!! Infact I have stopped putting it on the calender to see if he can actually remember! (Probably not).
Surely it should be on the outside of the wedding rings if you want to remember it?
lol.
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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.
