UK Accruals & Prepayments

Feb 17, 2016
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United Kingdom
I am looking for some advice re splitting expenses across the year. I have a rates bill for £12000 dated 1 April. Expense is to be split across the year. It is to be paid on a monthly basis, beginning April.

Do I post the invoice and payments as follows:

Dr Rates Nominal 1200
Cr Creditors control 1200
Date 01/04

Cr Rates Nominal 1100
Dr Prepayments 1100
Cr Bank 100
Dr Creditors Control
Date 30/04

Dr Rates Nominal 100
Cr Prepayments 100
Cr Bank 100
Dr Creditors Control 100
Date 31/05

And so on each month.


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