UK Debtor Accounts

Jul 16, 2019
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United Kingdom
I have recently started a new job where the previous accountant had not been doing their job correctly. I have come across accounts where invoices have been marked as paid using funds from another debtor account in order to make the aged debtors look good. This has impacted on several accounts so it is not some unfortunate mistake. It is possibly due to statements not being sent out so some debtors are not receiving invoices. J know this because I have sent out £10,000 worth of invoices to 2 suppliers today. I will be looking at getting statements sent out as soon as possible. What are the legal implications of using money from one debtor to pay off another? I am also having to pay off older invoices with current payments but not happy as this will continue to get worse. Advice and recommendations welcomed as don’t want to get in serious trouble.



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May 12, 2011
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United States
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