Using SAGE 200, previous bookkeeper accrued at year end being DEC 31.....then the accrual account was credited and the Reservice profit in the year account was credited. I have reversed some of these year end accruals - I debited the accrual and credited the reserves. Now invoices are received but cant be posted to normal nominal ledger codes costs the cost will appear in this year and is already accounted for in last year. I need someone to clarify it for me - my head is spinning....if I reversed the year end accrual...where do I post the invoice to. Has to go through purchase ledger but it automatcially credits Trade Creditors and then I put in the expenses code. I dont post them to accruals do I. Please help urgently!!
Do you have an Accountant? Would need to know December which year? Has the Accountant been given the info so are then relying on the previous bookkeepers figures? Or has the Accountant yet to see the figurework?
Also - I think you need to re-word your questions and you mention two credits in your first sentence - which wouldnt balance. Take a break and break it down better bearing in mind we cannot see what you can!
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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
